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Institut für Weltwirtschaft (IfW), Kiel >
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http://hdl.handle.net/10419/28327
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| Title: | | Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio?  |
| Authors: | | Ascari, Guido Ropele, Tiziano |
| Issue Date: | | 2009 |
| Series/Report no.: | | Kiel working paper 1499 |
| Abstract: | | When taken to examine disinflation monetary policies, the current workhorse DSGE model of business cycle fluctuations successfully accounts for the main stylized facts in terms of recessionary effects and sacrifice ratio. We complement the transitional analysis of the short-run costs with a rigorous welfare evaluation and show that, despite the long-lasting economic downturn, disinflation entails non-zero overall welfare gains. |
| Subjects: | | Disinflation Sacrifice ratio Non-linearities |
| JEL: | | E31 E5 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Kieler Arbeitspapiere, IfW
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