Inflation Stabilization and Welfare: The Case of a Distorted Steady State
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下载链接：
https://www.nber.org/papers/w10838
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资源简介：
This paper considers the appropriate stabilization objectives for monetary policy in a microfounded model with staggered price-setting. Rotemberg and Woodford (1997) and Woodford (2002) have shown that under certain conditions, a local approximation to the expected utility of the representative
提供机构：
美国国家经济研究局
创建时间：
2004-10-01
