On staggered prices and optimal inflation
Fecha
2019Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión aceptada / Onetsi den bertsioa
Impacto
|
10.1016/j.econlet.2019.108734
Resumen
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. ...
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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. [--]
Materias
Monopolistic competition,
Sticky prices,
Optimal inflation
Editor
Elsevier
Publicado en
Economics Letters 185 (2019) 108734
Departamento
Universidad Pública de Navarra/Nafarroako Unibertsitate Publikoa. Institute for Advanced Research in Business and Economics - INARBE
Versión del editor
Entidades Financiadoras
Asier Aguilera-Bravo gratefully acknowledges financial support from Fundación Banco Sabadell, Fundación Caja Navarra and Universidad Pública de Navarra. Miguel Casares would like to acknowledge financial support from the Spanish Ministerio de Ciencia, Innovación y Universidades (research project PGC2018-093542-B-100).