Welfare implications of Calvo vs. Rotemberg-pricing assumptions

DOI10.1016/j.econlet.2008.02.008zbMath1255.91132OpenAlexW3126087892MaRDI QIDQ1934867

Giovanni Lombardo, David Vestin

Publication date: 29 January 2013

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp770.pdf

zbMATH Keywords

second order approximationinflationwelfareCalvo price adjustmentRotemberg price adjustment

Mathematics Subject Classification ID

Related Items (6)

Revisiting the optimal inflation rate with downward nominal wage rigidity: the role of heterogeneity ⋮ The inflation bias under Calvo and Rotemberg pricing ⋮ Is Rotemberg pricing justified by macro data? ⋮ Real wage rigidities and disinflation dynamics: Calvo vs. Rotemberg pricing ⋮ Exact likelihood computation for nonlinear DSGE models with heteroskedastic innovations ⋮ Calvo vs. Rotemberg in a trend inflation world: an empirical investigation

Uses Software

• Dynare

Cites Work

• Optimal fiscal and monetary policy under sticky prices.
• The welfare loss from unstable inflation
• Monopolistic Price Adjustment and Aggregate Output

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