What if Oil is Less Substitutable? A New-Keynesian Model with Oil, Price and Wage Stickiness including Capital Accumulation.

5 May 2015Macro-economical and societal challenges Publications Research area Working papers0 comments

The recent literature on fossil energy has already stated that oil is not perfectly substitutable to other inputs, considering fossil fuel as a critical...

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What if Oil is Less Substitutable? A New-Keynesian Model with Oil, Price and Wage Stickiness including Capital Accumulation.

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