Publication: On staggered prices and optimal inflation
Date
2019
Director
Publisher
Elsevier
Acceso abierto / Sarbide irekia
Artículo / Artikulua
Versión aceptada / Onetsi den bertsioa
Project identifier
Abstract
This paper computes the steady-state optimal rate of inflation in a model with monopolistic competition under two different sticky-price specifications, Calvo (1983) and Taylor (1980).The optimal rate of inflation is positive and almost identical to the ratio between the rate of discount and the Dixit-Stiglitzelasticity.
Description
Keywords
Monopolistic competition, Sticky prices, Optimal inflation
Department
Institute for Advanced Research in Business and Economics - INARBE
Faculty/School
Degree
Doctorate program
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