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

DOI10.1016/J.ECONLET.2021.110136MaRDI QIDQ824013zbMATH OpenOpenAlexFDO

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

zbMATH Keywords

multiple equilibriadeflationstrategic complementaritynew Keynesian modelstate-dependent price setting

Mathematics Subject Classification ID

Statistical methods; economic indices and measures (91B82)

Recommendations

• A uniqueness proof for monetary steady state
• Multiplicity in New Keynesian models
• State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output
• Unique monetary equilibrium with inflation in a stationary Bewley-Aiyagari model
• Monetary policy and price level determinacy in a cash-in-advance economy

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

This page was built for publication: The uniqueness of steady-state equilibrium under state-dependent pricing: the case of deflation

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q824013)