أعرض تسجيلة المادة بشكل مبسط

dc.creator Berentsen, Aleksander
dc.creator Waller, Christopher Jude
dc.date 2005
dc.date.accessioned 2013-10-16T07:02:54Z
dc.date.available 2013-10-16T07:02:54Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19102
dc.identifier ppn:510009417
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19102
dc.description We construct a dynamic stochastic general equilibrium model to study optimal monetary stabilization policy. Prices are fully flexible and money is essential for trade. Our main result is that if the central bank pursues a long-run price path, thereby controlling inflation expectations, it can improve welfare by stabilizing short-run aggregate shocks. The optimal policy involves smoothing nominal interest rates which effectively smooths consumption across states. Failure to follow a long-run price path makes any stabilization attempt ineffective.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1638
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E5
dc.subject E4
dc.subject ddc:330
dc.subject Geldpolitik
dc.subject Preisniveaustabilität
dc.subject Konjunkturpolitik
dc.subject Soziale Wohlfahrtsfunktion
dc.subject Theorie
dc.subject Preisrigidität
dc.subject Allgemeines Gleichgewicht
dc.subject Theorie
dc.title Optimal stabilization policy with flexible prices
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط