Title of article :
OptimaldisinflationinnewKeynesianmodels
Author/Authors :
Marcus Hagedorn، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2011
Pages :
14
From page :
248
To page :
261
Abstract :
Centralbankers’conventionalwisdomsuggeststhatnominalinterestratesshouldbe raisedtoattainalowerinflationtarget.Incontrast,IshowthatthestandardNew Keynesianmonetarymodelwithrationalexpectationsandfullcredibilitypredictsthat nominalinterestratesshouldbedecreasedtoattainthisgoal.Realinterestrates, however,arevirtuallyunchanged.TheseresultsalsoholdinrecentvintagesofNew Keynesianmodelswithstickywages,priceandwageindexationandhabitformationin consumption.
Journal title :
Journal of Monetary Economics
Serial Year :
2011
Journal title :
Journal of Monetary Economics
Record number :
846469
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846469
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