Optimal monetary policy with endogenous entry and product variety
Date
2014
Authors
Bilbiie, Florin O
Fujiwara, Ippei
Ghironi, Fabio
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Publisher
Elsevier
Abstract
Deviations from long-run price stability are optimal in the presence of endogenous entry and product variety in a sticky-price model in which price stability would be optimal otherwise Long-run inflation (deflation) is optimal when the benefit of variety
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Keywords
Keywords: Entry; Optimal inflation rate; Price stability; Product variety; Ramsey-optimal monetary policy
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Source
Journal of Monetary Economics
Type
Journal article
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Restricted until
2037-12-31
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