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.Capacity Constraints, Nominal Rigidities Idiosyncratic Uncertainty, Asymmetries
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
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...
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 stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
April 2009We develop a New Keynesian model that incorporates rigidities in the ability of households...
This paper examines the distribution of output around capacity when money demand is a nonlinear func...
ost Keynesian macrodynamic models make various assumptions about the normal rate of capacity utiliza...
In a monopolistic competition framework, we propose a dynamic model in which capacity underutilizati...
In a stochastic dynamic general equilibrium framework, we introduce the concept of capacity utilizat...
This paper analyses a new-Keynesian model incorporating hysteresis in output. Specifically, we assum...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
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...
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 stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
April 2009We develop a New Keynesian model that incorporates rigidities in the ability of households...
This paper examines the distribution of output around capacity when money demand is a nonlinear func...
ost Keynesian macrodynamic models make various assumptions about the normal rate of capacity utiliza...
In a monopolistic competition framework, we propose a dynamic model in which capacity underutilizati...
In a stochastic dynamic general equilibrium framework, we introduce the concept of capacity utilizat...
This paper analyses a new-Keynesian model incorporating hysteresis in output. Specifically, we assum...
In a stochastic dynamic general equilibrium framework, we introduce the concept of variable capacity...
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...