The uniqueness of steady-state equilibrium under state-dependent pricing: the case of deflation

DOI10.1016/J.ECONLET.2021.110136zbMATH Open1479.91267OpenAlexW3208422642MaRDI QIDQ824013FDOQ824013

Authors: Shuhei Takahashi 

Publication date: 14 December 2021

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

Full work available at URL: https://doi.org/10.1016/j.econlet.2021.110136

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zbMATH Keywords

multiple equilibriadeflationstrategic complementaritynew Keynesian modelstate-dependent price setting

Mathematics Subject Classification ID

Statistical methods; economic indices and measures (91B82)

Cites Work

• Optimal Monetary Policy
• State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output

Cited In (2)

• Arbitrage and state price deflators in a general intertemporal framework
• Filtration shrinkage, the structure of deflators, and failure of market completeness

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