Title of article
The welfare loss from unstable inflation
Author/Authors
Salvatore Nistic?، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2007
Pages
7
From page
51
To page
57
Abstract
The Calvo price-setting mechanism produces relative-price dispersion among firms, while the Rotemberg model is consistent with a symmetric equilibrium. Nonetheless, both models imply the same welfare costs of inflation and the same prescriptions for welfare-maximizing Central Banks
Keywords
Rotemberg-pricing , Symmetric equilibrium , Welfare criterion , Relative-price dispersion
Journal title
Economics Letters
Serial Year
2007
Journal title
Economics Letters
Record number
436262
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