Endogenous time-dependent rules and the costs of disinflation with imperfect credibility
Carregando...
Arquivos
Data
2003-10-09
Orientador(res)
Métricas
Título da Revista
ISSN da Revista
Título de Volume
Resumo
This paper examines the output effects of monetary disinflation in a model with endogenous time-dependent pricing rules and imperfect credibility of the disinflation policy. We find that these features interact to generate an additional effect on top f the ones obtained with either endogenous time-dependent rules (Bonomo and Carvalho, 2003) or imperfect credibility (Ball, 1995) in isolation. This results in higher output costs of monetary disinflation.