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On the optimal inflation rate
Brunnermeier, Markus Konrad; Sannikov, Yuliy - 2016
Persistent link: https://www.econbiz.de/10011460410
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On the optimal inflation rate
Brunnermeier, Markus Konrad; Sannikov, Yuliy - In: The American economic review 106 (2016) 5, pp. 484-489
Persistent link: https://www.econbiz.de/10011700131
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The optimal inflation rate with discount factor heterogeneity
Lepetit, Antoine - 2018
This paper shows that deviations from long-run price stability are optimal in the presence of price stickiness whenever profit and utility flows are discounted at a different rate. In that case, a monetary authority acting under commitment will choose a path for the inflation rate that ends with...
Persistent link: https://www.econbiz.de/10012016683
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On the Optimal Inflation Rate
Brunnermeier, Markus K. - 2016
In our incomplete markets economy financial frictions affect the optimal inflation target. Households choose portfolios consisting of risky (uninsurable) capital and money. Money is a bubbly store of value. The market outcome is constrained Pareto inefficient due to a pecuniary externality. Each...
Persistent link: https://www.econbiz.de/10012456542
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On the Optimal Inflation Rate
Brunnermeier, Markus K. - 2016
In our incomplete markets economy financial frictions affect the optimal inflation target. Households choose portfolios consisting of risky (uninsurable) capital and money. Money is a bubbly store of value. The market outcome is constrained Pareto inefficient due to a pecuniary externality. Each...
Persistent link: https://www.econbiz.de/10012995520
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Growth and risk-sharing with private information
Khan, Aubhik; Ravikumar, B. - 1999
Persistent link: https://www.econbiz.de/10001412210
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Growth and risk-sharing with private information
Khan, Aubhik; Ravikumar, B. - In: Journal of monetary economics 47 (2001) 3, pp. 499-521
Persistent link: https://www.econbiz.de/10001588921
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Growth and Risk-Sharing with Private Information
Khan, Aubhik; Ravikumar, B. - 2019
the economy is private information: a household's idiosyncratic productivity shock is not observable by others. Risk …The author examines the impact of incomplete risk-sharing on growth and welfare. The source of market incompleteness in …-sharing between households occurs through long-term contracts with intermediaries. The author finds that incomplete risk-sharing tends …
Persistent link: https://www.econbiz.de/10014179172
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The Benefits of Dynamic Risk Management : Mitigating Downside Risk Without Compromising Long-Term Growth Prospects
Darolles, Serge - 2015
Is it really possible to control for the downside risk when the market environment is in constant evolution? If so … variance and correlation terms are properly taken into account, downside risk can be mitigated without compromising long …
Persistent link: https://www.econbiz.de/10013037556
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Korea's demographic transition and long-term growth projection based on an overlapping generations model
Kwon, Kyooho - In: Han gug gae bal yeon gu 39 (2017) 2, pp. 25-51
Persistent link: https://www.econbiz.de/10011685862