-
Anglický jazyk
Positive Trend Inflation in the New Keynesian Model
Autor: Katrin Heinrichs
In this book, a baseline New Keynesian model is linearised around a possibly positive trend inflation rate. The trend inflation, i.e. target inflation rate, is brought about either by a forward-looking or contemporaneous Taylor rule. The model is based on... Viac o knihe
Na objednávku, dodanie 2-4 týždne
104.02 €
bežná cena: 118.20 €
O knihe
In this book, a baseline New Keynesian model is linearised around a possibly positive trend inflation rate. The trend inflation, i.e. target inflation rate, is brought about either by a forward-looking or contemporaneous Taylor rule. The model is based on the assumption of strategic complementarity in price-setting. Steady-state, determinacy and model dynamics are analysed. A focus is on different versions of trend-inflation dependent price-setting frequencies. Like in many other studies, welfare considerations do not justify an inflation target considerably above zero. It appears, however, that higher price-flexibility favours a slightly higher target. Overall, price-setting frequency is of considerable importance for the results.
- Vydavateľstvo: Südwestdeutscher Verlag für Hochschulschriften
- Rok vydania: 2015
- Formát: Paperback
- Rozmer: 220 x 150 mm
- Jazyk: Anglický jazyk
- ISBN: 9783838135243
