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- W3124592570 abstract "This paper computes the steady-state optimal rate of inflation assuming two di erent sticky-price specifications, Calvo (1983) and Taylor (1980), in a model with monopolistic competition. The optimal rate of inflation in steady state is always positive. This result is robust to changes in the degree of price stickiness. In both cases of staggered prices, the optimal rate of inflation is approximately equal to the ratio between the rate of discount and the Dixit-Stiglitz elasticity." @default.
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- W3124592570 date "2019-01-01" @default.
- W3124592570 modified "2023-09-27" @default.
- W3124592570 title "On Staggered Prices and Optimal Inflation" @default.
- W3124592570 hasPublicationYear "2019" @default.
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