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Asier Aguilera Bravo

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Authors: Aguilera Bravo, Asier; Casares, M., (Autor de correspondencia)
Journal: ECONOMICS LETTERS
ISSN 0165-1765  Vol. 185  2019  pp. 108734
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-Stiglitz elasticity. (C) 2019 Elsevier B.V. All rights reserved.