| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966970 | Journal of Monetary Economics | 2012 | 8 Pages |
Abstract
⺠Characterization of Ramsey optimal inflation targets. ⺠Development of model with quality improvement and sticky prices. ⺠Optimal inflation target may not need to be adjusted for quality bias in CPI. ⺠Quality bias may make deflation Ramsey optimal. ⺠Sticky hedonic prices may call for adjustment of inflation target for quality bias.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Stephanie Schmitt-Grohé, MartÃn Uribe,