The elusive costs of inflation: price dispersion during the U.S. Great Inflation

DOI10.1093/QJE/QJY017zbMATH Open1405.91458OpenAlexW2515346722MaRDI QIDQ4647486FDOQ4647486

Authors: Emi Nakamura, Jón Steinsson, Patrick Sun, Daniel Villar 

Publication date: 15 January 2019

Published in: The Quarterly Journal of Economics (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w22505.pdf

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zbMATH Keywords

price dispersionNew Keynesian modelscosts of inflation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

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• On time-dependent nominal contracting models with positive trend inflation
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• Should the ECB adjust its strategy in the face of a lower \(r^\star\)?
• Strategic mistakes
• The welfare loss from unstable inflation

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