Elasticity Optimism.
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is...
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Full text (MCPHS users only) |
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| Main Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington :
International Monetary Fund,
2009
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| Series: | IMF Working Papers.
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| Subjects: | |
| Local Note: | ProQuest Ebook Central |
