Tomiyuki Kitamura - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-19T07:26:42+00:00Output Comovement and Inflation Dynamics in a Two-Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor Markets
https://www.bankofcanada.ca/2016/07/staff-working-paper-2016-36/
In a simple two-sector New Keynesian model, sticky prices generate a counterfactual negative comovement between the output of durable and nondurable goods following a monetary policy shock. We show that heterogeneous factor markets allow any combination of strictly positive price stickiness to generate positive output comovement.2016-07-26T11:08:57+00:00enOutput Comovement and Inflation Dynamics in a Two-Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor Markets2016-07-26Inflation and pricesMonetary policy transmissionStaff Working Paper 2016-36https://www.bankofcanada.ca/wp-content/uploads/2016/07/swp2016-36.pdfOutput Comovement and Inflation Dynamics in a Two-Sector Model with Durable Goods: The Role of Sticky Information and Heterogeneous Factor MarketsTomiyuki KitamuraTamon TakamuraJuly 2016EE3E31E32E5E52