Optimal Monetary Policy and the Sources of Local-Currency Price Stability

We analyze the policy trade-offs generated by local currency price stability of imports in economies where upstream producers strategically interact with downstream firms selling the final goods to consumers. We study the effects of staggered price setting at the downstream level on the optimal

我们分析了进口品本币价格稳定在下游企业向消费者销售最终产品且上游生产商与下游企业存在策略性互动的经济体中所产生的政策权衡。我们研究了下游层面的交错定价对最优（原文此处内容不完整）的影响。