Title of article :
Customermarketsandthewelfareeffectsofmonetarypolicy
Author/Authors :
Johan S¨oderberg، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2011
Pages :
14
From page :
206
To page :
219
Abstract :
A customermarketmodelinwhichfirmsandcustomersformlong-termrelationsis developedandintegratedintothecanonicalNewKeynesianframework.Thisleadsto two importantdifferencescomparedtothestandardmodel.First,thepurelyforward- lookingPhillipscurveisreplacedbyahybridvariantwherecurrentinflationalso dependsonpastinflation.Second,thewelfarecostofinflationismuchlower,which leadstoanoptimalmonetarypolicywhererelativelymoreweightisputonoutputgap stabilizationthanpreviouslyfoundintheliterature.
Journal title :
Journal of Monetary Economics
Serial Year :
2011
Journal title :
Journal of Monetary Economics
Record number :
846466
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846466
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