On staggered prices and optimal inflation
| dc.contributor.author | Aguilera Bravo, Asier | |
| dc.contributor.author | Casares Polo, Miguel | |
| dc.contributor.department | Ekonomia | eu |
| dc.contributor.department | Institute for Advanced Research in Business and Economics - INARBE | en |
| dc.contributor.department | Economía | es_ES |
| dc.contributor.funder | Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa | es |
| dc.date.accessioned | 2019-06-06T11:17:34Z | |
| dc.date.available | 2019-06-06T11:17:34Z | |
| dc.date.issued | 2019 | |
| dc.description.abstract | 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. | en |
| dc.description.sponsorship | Asier Aguilera-Bravo gratefully acknowledges financial support from Fundación Banco Sabadell, Fundación Bancaria Caja Navarra and Universidad Pública de Navarra. Miguel Casares would like to acknowledge financial support from the Spanish government (research project ECO2015-64330-P). | en |
| dc.format.extent | 14 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/33216 | |
| dc.language.iso | eng | en |
| dc.relation.ispartofseries | Documentos de Trabajo DE - ES Lan Gaiak | es |
| dc.relation.ispartofseries | 1902 | |
| dc.relation.projectID | info:eu-repo/grantAgreement/MINECO//ECO2015-64330-P/ES/ | |
| dc.rights | CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| dc.subject | Monopolistic competition | en |
| dc.subject | Sticky prices | en |
| dc.subject | Optimal inflation | en |
| dc.title | On staggered prices and optimal inflation | en |
| dc.type | info:eu-repo/semantics/workingPaper | |
| dspace.entity.type | Publication | |
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