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Nominal and real interest rates during an optimal disinflation in New Keynesian models.
Hagedorn, Marcus - 2008
Central bankers’ conventional wisdom suggests that nominal interest rates should be raised to implement a lower inflation target. In contrast, I show that the standard New Keynesian monetary model predicts that nominal interest rates should be decreased to attain this goal. Real interest...
Persistent link: https://www.econbiz.de/10011604924
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Learning, endogenous indexation and disinflation in the New-Keynesian model
Wieland, Volker - 2008
disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation …-targeting countries, in particular the gradual Chilean disinflation with temporary annual targets. At the start of the disinflation … adaptive learning lowers the cost of disinflation. This reduction can be exploited by a gradual approach to disinflation. Firms …
Persistent link: https://www.econbiz.de/10010298400
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Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio?
Ascari, Guido; Ropele, Tiziano - 2009
When taken to examine disinflation monetary policies, the current workhorse DSGE model of business cycle fluctuations … downturn, disinflation entails non-zero overall welfare gains. …
Persistent link: https://www.econbiz.de/10010265222
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Imperfectly credible disinflation under endogenous time-dependent pricing
Bonomo, Marco; Carvalho, Carlos - 2008
The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. In this … paper, we examine how credibility affects the outcome of a disinflation in a model with endogenous time-dependent pricing … rules. Both the endogenous initial degree of price rigidity and changes in the duration of price spells during disinflation …
Persistent link: https://www.econbiz.de/10010287055
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Competitive disinflation : the Mark and budgetary politics in Europe
Fitoussi, Jean-Paul (contributor) - 1993
Persistent link: https://www.econbiz.de/10000859685
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Disinflation in a DSGE perspective : sacrifice ratio or welfare gain ratio?
Ascari, Guido; Ropele, Tiziano - In: Journal of economic dynamics & control 36 (2012) 2, pp. 169-182
Persistent link: https://www.econbiz.de/10009489616
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Disinflation with labor market frictions
Shin, Jong Kook; Subramanian, Chetan - In: Journal of macroeconomics 41 (2014), pp. 1-15
Persistent link: https://www.econbiz.de/10010514153
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The post-1980 debt disinflation : an exercise in historical accounting
Mason, J. W.; Jayadev, Arjun - In: Review of Keynesian economics 3 (2015) 3, pp. 314-335
Persistent link: https://www.econbiz.de/10011311668
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How costly is the deliberate disinflation in India? : estimating the sacrifice ratio
Dholakia, Ravindra H.; Virinchi, Kadiyala Sri - 2015
Persistent link: https://www.econbiz.de/10011334580
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Disinflationary booms?
Merkl, Christian - 2013
This paper shows that announced credible disinflations under inflation targeting lead to a boom in a standard New Keynesian model (i.e. a disinflationary boom). This finding is robust with respect to various parameterizations and disinflationary experiments. Thus, it differs from previous...
Persistent link: https://www.econbiz.de/10009762360