Detalle Publicación


On staggered prices and optimal inflation

Autores: Aguilera Bravo, Asier; Casares, M. (Autor de correspondencia)
Título de la revista: ECONOMICS LETTERS
ISSN: 0165-1765
Volumen: 185
Páginas: 108734
Fecha de publicación: 2019
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.