The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies
Banco Central do Brasil
Medium-scale DSGE model for small open economies with Calvo price and wage stickiness, habit persistence in consumption, investment adjustment costs, capital utilization costs, cash-in-advance constraint, portfolio adjustment costs for domestic
monopolistic competition with Calvo pricing in all sectors, local currency pricing for imports and exports
Table 4.1 line 2
Flexible prices αn=0, αm=0, complete set of instruments - Friedman rule