| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062073 | Economics Letters | 2007 | 7 Pages |
Abstract
The Calvo price-setting mechanism produces relative-price dispersion among firms, while the Rotemberg model is consistent with a symmetric equilibrium. Nonetheless, both models imply the same welfare costs of inflation and the same prescriptions for welfare-maximizing Central Banks.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Salvatore Nisticò,