TABLE 2. Steady-state national accounts (ratio to GDP, %)
| Home | REA | US | RW |
|---|
| Domestic demand | | | | |
|---|
| Private consumption | 46.9 | 56.4 | 66.1 | 54.9 |
|---|
| Private investment | 16.25 | 17.41 | 16.25 | 19.25 |
|---|
| Public consumption | 18.80 | 23.10 | 19.40 | 20.60 |
|---|
| Public investment | 3.0 | 3.0 | 3.0 | 3.0 |
|---|
| Trade | | | | |
|---|
| Imports (total) | 75.7 | 23.5 | 13.8 | 9.3 |
|---|
| Imports of consumption goods | 29.2 | 12.7 | 9.5 | 3.9 |
|---|
| Imports of investment goods | 9.6 | 4.4 | 3.0 | 2.4 |
|---|
| Imports of exports | 37.0 | 6.4 | 1.3 | 3.0 |
|---|
| Net foreign assets (ratio to annual GDP) | -20.0 | -0.1 | - | -3.0 |
|---|
| Trade balance (ratio to annual GDP) | 15.0 | 0.1 | -4.8 | 2.2 |
|---|
| Share of world GDP | 0.026 | 16.44 | 22.6 | 60.7 |
|---|
TABLE 3. International Linkages (Trade matrix, share of domestic GDP, %)
| Home | REA | US | RW |
|---|
| Consumption-good imports | | | | |
|---|
| Total consumption good imports | 29.2 | 12.7 | 9.5 | 3.9 |
|---|
| From partner | | | | |
|---|
| Home | - | 0.5 | 0.2 | 0.1 |
|---|
| REA | 6.4 | - | 1.0 | 2.4 |
|---|
| US | 2.8 | 1.0 | - | 1.4 |
|---|
| RW | 20.0 | 11.2 | 8.3 | - |
|---|
| Investment-good imports | | | | |
|---|
| Total investment good imports | 9.5 | 4.4 | 3.0 | 2.4 |
|---|
| From partner | | | | |
|---|
| Home | - | 0.1 | 0.1 | 0.0 |
|---|
| REA | 1.6 | - | 0.4 | 1.3 |
|---|
| US | 3.5 | 0.8 | - | 1.1 |
|---|
| RW | 4.4 | 3.5 | 2.5 | - |
|---|
| Imports of exports | | | | |
|---|
| Total imports of exports | 37.0 | 6.4 | 1.3 | 3.1 |
|---|
| From partner | | | | |
|---|
| Home | - | 0.3 | 0.0 | 0.1 |
|---|
| REA | 7.8 | - | 0.2 | 1.8 |
|---|
| US | 6.2 | 0.7 | - | 1.2 |
|---|
| RW | 23.0 | 5.4 | 1.1 | - |
|---|
The set of parameters governing the pricing block of the model consists of firm markups (Table 4), nominal price rigidities (Table 5), and parameters of monetary policy rules (Table 6). The calibration of these parameters in the model follows the parameterisation estimated in Christoffel et al. (2008), and the values used in Gomes et al. (2012).