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Institut für Weltwirtschaft (IfW), Kiel >
Kieler Arbeitspapiere, IfW >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/28379
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Faia, Ester | | en_US |
| dc.date.accessioned | | 2009-09-21 | | en_US |
| dc.date.accessioned | | 2009-10-18T16:27:19Z | | - |
| dc.date.available | | 2009-10-18T16:27:19Z | | - |
| dc.date.issued | | 2009 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/28379 | | - |
| dc.description.abstract | | The literature has shown that product market frictions and firms dynamic play a crucial role in reconciling standard DSGE with several stylized facts. This paper studies optimal monetary policy in a DSGE model with sticky prices and oligopolistic competition. In this model firms' monopolistic rents induce both intra-temporal and intertemporal time-varying wedges which induce inefficient fluctuations of employment and consumption. The monetary authority faces a trade-off between stabilizing inflation and reducing inefficient fluctuations, which is resolved by using consumer price inflation as a state contingent sale subsidy. An analysis of the welfare gains of alternative rules show that targeting mark-ups and asset prices might improve upon a strict inflation targeting. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Kiel Institute for the World Economy (IfW) Kiel | | en_US |
| dc.relation.ispartofseries | | Kiel working paper 1552 | | en_US |
| dc.subject.jel | | E3 | | en_US |
| dc.subject.jel | | E5 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Product market frictions | | en_US |
| dc.subject.keyword | | oligopolistic competition | | en_US |
| dc.subject.keyword | | optimal monetary policy | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Dynamisches Gleichgewicht | | en_US |
| dc.subject.stw | | Allgemeines Gleichgewicht | | en_US |
| dc.subject.stw | | Stochastischer Prozess | | en_US |
| dc.subject.stw | | Oligopol | | en_US |
| dc.subject.stw | | Preisrigidität | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Oligopolistic competition and optimal monetary policy | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 609217879 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Kieler Arbeitspapiere, IfW
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