Title:Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment
Author(s):CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, PaoloDate:2008Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract:Most analyses of the macroeconomic adjustment required to correct global imbalances ignore net exports of new varieties of goods and services and do not account for firms'net entry in the product market. In this paper we ...
Title:Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Author(s):CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:NBER Working PapersAbstract:This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country ...
Title:The Simple Geometry of Transmission and Stabilization in Closed and Open Economies
Author(s):CORSETTI, Giancarlo; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:NBER Working papersAbstract:This paper provides an introduction to the recent literature on macroeconomic stabilization in closed and open economies. We present a stylized theoretical framework, and illustrate its main properties with the help of an ...
Title:International Dimensions of Optimal Monetary Policy
Author(s):CORSETTI, Giancarlo; PESENTI, PaoloDate:2005Type of Publication:ArticleAbstract:This paper provides a baseline general equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms and nominal rigidities. An inward-looking policy of domestic price stabilization ...
Title:The Simple Geometry of Transmission and Stabilization in Closed and Open Economies
Author(s):CORSETTI, Giancarlo; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:CEPR Discussion PaperAbstract:This paper provides an introduction to the recent literature on macroeconomic stabilization in closed and open economies. We present a stylized theoretical framework, and illustrate its main properties with the help of an ...
Title:Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Author(s):CORSETTI, Giancarlo; MARTIN, Philippe; PESENTI, PaoloDate:2005Type of Publication:Working PaperSeries/Report no.:CEPR Discussion PapersAbstract:This paper analyses the welfare implications of international spillovers related to productivity gains, changes in market size, or government spending. We introduce trade costs and endogenous varieties in a two-country ...
