Lecture 5 - Isabelle MEJEAN's home page
Lecture 5 - Isabelle MEJEAN's home page
Lecture 5 - Isabelle MEJEAN's home page
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Betts & Devereux (1996)<br />
Campa & Goldberg (2006)<br />
Pass-through rates at the aggregate level<br />
Price indices:<br />
P t = [ αP 1−Φ<br />
P Tt =<br />
P Nt =<br />
P THt =<br />
P TFt =<br />
Tt<br />
[<br />
α T P 1−Φ T<br />
THt<br />
[∫ 1<br />
0<br />
[∫ 1<br />
0<br />
[∫ 1<br />
0<br />
+ (1 − α)P 1−Φ ] 1<br />
1−Φ<br />
Nt<br />
p t (n) 1−θ dn<br />
+ (1 − α T )P 1−Φ T<br />
TFt<br />
] 1<br />
1−θ<br />
] 1<br />
p t (h) 1−θ 1−θ<br />
dh<br />
] 1<br />
p t (f ) 1−θ 1−θ<br />
df<br />
] 1<br />
1−Φ T<br />
<strong>Isabelle</strong> Méjean <strong>Lecture</strong> 5
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