Add to ORKGThis paper presents a model featuring variable utilization rates across firms due to production inflexibilities and idiosyncratic demand uncertainty. Within a New Keynesian framework, we show how the corresponding bottlenecks and stock-outs generate asymmetries in the transmission mechanism of monetary policy. We derive an expression for the Phillips curve where the dynamics of inflation depend on real marginal costs and on a measure of resource underutilization
This paper analyses a new-Keynesian model incorporating hysteresis in output. Specifically, we assum...
Previous studies of the Phillips Curve using capacity, utilization have estimated NAIRCU to be in th...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
This paper presents a model featuring variable utilization rates across firms due to production infl...
This paper investigates the role of variable capacity utilization as a source of asymmetries in the ...
This paper analyzes the joint dynamics of two key macroeconomic variables for the conduct of monetar...
In a monopolistic competition framework, we propose a dynamic model in which capacity underutilizati...
ost Keynesian macrodynamic models make various assumptions about the normal rate of capacity utiliza...
This paper examines the distribution of output around capacity when money demand is a nonlinear func...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
In a stochastic dynamic general equilibrium framework, we introduce the concept of capacity utilizat...
April 2009We develop a New Keynesian model that incorporates rigidities in the ability of households...
This paper analyses a new-Keynesian model incorporating hysteresis in output. Specifically, we assum...
Previous studies of the Phillips Curve using capacity, utilization have estimated NAIRCU to be in th...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
This paper presents a model featuring variable utilization rates across firms due to production infl...
This paper investigates the role of variable capacity utilization as a source of asymmetries in the ...
This paper analyzes the joint dynamics of two key macroeconomic variables for the conduct of monetar...
In a monopolistic competition framework, we propose a dynamic model in which capacity underutilizati...
ost Keynesian macrodynamic models make various assumptions about the normal rate of capacity utiliza...
This paper examines the distribution of output around capacity when money demand is a nonlinear func...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
In a stochastic dynamic general equilibrium framework, we introduce the concept of capacity utilizat...
April 2009We develop a New Keynesian model that incorporates rigidities in the ability of households...
This paper analyses a new-Keynesian model incorporating hysteresis in output. Specifically, we assum...
Previous studies of the Phillips Curve using capacity, utilization have estimated NAIRCU to be in th...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...