Optimal Monetary Policy with Endogenous Entry and Product Variety
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We show that deviations from long-run stability of product prices are optimal in the presence of endogenous producer entry and product variety in a sticky-price model with monopolistic competition in which price stability would be optimal in the absence of entry. Specifically, a long-run positive
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美国国家经济研究局创建时间：
2011-10-01
