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https://hdl.handle.net/10419/28379
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Faia, Ester | en |
dc.date.accessioned | 2009-09-21 | - |
dc.date.accessioned | 2009-10-18T16:27:19Z | - |
dc.date.available | 2009-10-18T16:27:19Z | - |
dc.date.issued | 2009 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aKiel Institute for the World Economy (IfW) |cKiel | en |
dc.relation.ispartofseries | |aKiel Working Paper |x1552 | en |
dc.subject.jel | E3 | en |
dc.subject.jel | E5 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Product market frictions | en |
dc.subject.keyword | oligopolistic competition | en |
dc.subject.keyword | optimal monetary policy | en |
dc.subject.stw | Geldpolitik | en |
dc.subject.stw | Dynamisches Gleichgewicht | en |
dc.subject.stw | Allgemeines Gleichgewicht | en |
dc.subject.stw | Stochastischer Prozess | en |
dc.subject.stw | Oligopol | en |
dc.subject.stw | Preisrigidität | en |
dc.subject.stw | Theorie | en |
dc.title | Oligopolistic competition and optimal monetary policy | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 609217879 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:ifwkwp:1552 | en |
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