Adam, Klaus (contributor); Billi, Roberto M. (contributor) - 2004
simple and well-known monetary policy model of a represen-
tative consumer and firms in monopolistic competition facing … nominal interest rates cannot be set to negative
values.
2
We consider a well-known monetary policy model with monopolistic …
competition and sticky prices, as described in Clarida, Galí and Gertler
(1999) and Woodford (2003). While this model has been …