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 4.4 line 2
Single income tax only, near-flexible prices αn=0.01, αm=0.01