Monetary Policy When Wages Are Downwardly Rigid: Friedman Meets Tobin

Serie

  • Cahiers de recherche

Resumen

  • In a monetary economy with downwardly rigid wages, the central banker should target a low, but strictly positive, inflation rate.

fecha de publicación

  • 2009

Líneas de investigación

  • Asymmetric Effects of Monetary Policy
  • Downward Nominal Wage Rigidity
  • Nonlinear
  • Optimal Inflation

Issue

  • 2009-14