Monopolistic competition, sticky prices, and the minimal mark-up in steady state

Casares Polo, Miguel

Publication:
Monopolistic competition, sticky prices, and the minimal mark-up in steady state

dc.contributor.author	Casares Polo, Miguel
dc.contributor.department	Economía	es_ES
dc.contributor.department	Ekonomia	eu
dc.date.accessioned	2016-05-10T07:40:37Z
dc.date.available	2016-05-10T07:40:37Z
dc.date.issued	2007
dc.description.abstract	This note reports the rate of inflation that minimizes the mark-up of prices over marginal costs in the steady-state solution of a monopolistic competition model with either Taylor (1980) or Calvo (1983) pricing. The minimal mark-up is always found at a positive and low rate of inflation for any sensible parameter calibration. Actually, the rate of inflation that minimizes the mark-up is very close to ratio between the real rate of discount and the Dixit-Stiglitz elasticity. This result is robust to altenative sticky-price specifications.	en
dc.format.extent	12 p.
dc.format.mimetype	application/pdf	en
dc.identifier.uri	https://academica-e.unavarra.es/handle/2454/20643
dc.language.iso	eng	en
dc.relation.ispartofseries	Documentos de Trabajo DE - ES Lan Gaiak	es
dc.relation.ispartofseries	0702	en
dc.rights	CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)	en
dc.rights.accessRights	Acceso abierto / Sarbide irekia	es
dc.rights.accessRights	info:eu-repo/semantics/openAccess	en
dc.rights.uri	https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject	Monopolistic competition	en
dc.subject	Sticky prices	en
dc.subject	Minimal mark-up	en
dc.title	Monopolistic competition, sticky prices, and the minimal mark-up in steady state	en
dc.type	Documento de trabajo / Lan gaiak	es
dc.type	info:eu-repo/semantics/workingPaper	en
dspace.entity.type	Publication
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relation.isAuthorOfPublication.latestForDiscovery	308e2f24-fee5-4ddb-be38-6e7a11cabf44