The inflation bias under Calvo and Rotemberg pricing

DOI10.1016/j.jedc.2016.09.002zbMath1401.91404OpenAlexW2155678730MaRDI QIDQ1656458

Campbell Leith, Ding Liu

Publication date: 10 August 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: http://eprints.gla.ac.uk/128773/7/128773.pdf

zbMATH Keywords

monetary policyinflation biastime-consistent policynew Keynesian modelCalvo pricingRotemberg pricing

Mathematics Subject Classification ID

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

Related Items (3)

Optimal fiscal and monetary policy with occasionally binding zero bound constraints ⋮ Unnamed Item ⋮ Discretionary monetary policy in the Calvo model

Uses Software

• CompEcon

Cites Work

• Unnamed Item
• Unnamed Item
• New Keynesian dynamics in a low interest rate environment
• Using a projection method to analyze inflation bias in a micro-founded model
• Second-order approximation to the Rotemberg model around a distorted steady state
• Projection methods for solving aggregate growth models
• Nonlinear adventures at the zero lower bound
• The welfare loss from unstable inflation
• Welfare implications of Calvo vs. Rotemberg-pricing assumptions
• Public debt, discretionary policy, and inflation persistence
• Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate

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