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Aguilera Bravo, Asier

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https://academica-e.unavarra.es/handle/2454/48453

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Aguilera Bravo

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Asier

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Economía

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0000-0001-9229-4103

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811064

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20192
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Subject: Optimal inflation ×

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Now showing 1 - 2 of 2
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    PublicationOpen Access
    On staggered prices and optimal inflation
    (Elsevier, 2019) Aguilera Bravo, Asier; Casares Polo, Miguel; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
    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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    PublicationEmbargo
    On staggered prices and optimal inflation
    (2019) Aguilera Bravo, Asier; Casares Polo, Miguel; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Economía; Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa
    This paper computes the steady-state optimal rate of inflation assuming two different sticky-price specifications, Calvo (1983) and Taylor (1980), in a model with monopolistic competition. The optimal rate of inflation in steady state is always positive. This result is robust to changes in the degree of price stickiness. In both cases of staggered prices, the optimal rate of inflation is approximately equal to the ratio between the rate of discount and the Dixit-Stiglitz elasticity.