Second-order approximation to the Rotemberg model around a distorted steady state

DOI10.1016/J.ECONLET.2010.11.010MaRDI QIDQ631273zbMATHOpenAlexWikidataFDO

Authors Tatiana Damjanovic, Charles Nolan

Publication date 22 March 2011

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/10036/4323

zbMATH Keywords

price stickinesscostly price adjustmentRotemberg model

Mathematics Subject Classification ID

Dynamic stochastic general equilibrium theory (91B51) Welfare economics (91B15)

Recommendations

• The welfare loss from unstable inflation
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
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• The propagation of uncertainty shocks: Rotemberg versus Calvo
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Cites work

• Optimal fiscal and monetary policy under sticky prices.
• Real wage rigidities and disinflation dynamics: Calvo vs. Rotemberg pricing

Cited in

(2)

• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• The inflation bias under Calvo and Rotemberg pricing

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