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We offer a comprehensive evaluation of the welfare and cyclical implications of moderate trend inflation. In an … extended version of a medium-scale New Keynesian model, recent proposals to increase trend inflation from 2 to 4 percent would …, and iv) and the interaction between trend inflation and shocks to the marginal efficiency of investment (MEI), insofar …
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We offer a comprehensive evaluation of the welfare and cyclical implications of moderate trend inflation. In an … extended version of a medium-scale New Keynesian model, recent proposals to increase trend inflation from 2 to 4 percent would …, and iv) and the interaction between trend inflation and shocks to the marginal efficiency of investment (MEI), insofar …
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