The optimal inflation rate under Schumpeterian growth
نویسندگان
چکیده
منابع مشابه
On the Optimal Inflation Rate
How do financial frictions affect the optimal inflation rate? Can financial frictions alone annul the long-run super-neutrality of money? Should the inflation rate be higher in emerging market economies with less developed financial markets than in advanced economies, as is currently observed? To answer these questions we set up an incomplete markets model in which households choose portfolios ...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2018
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2018.07.012