A quantitative analysis of cost-push shocks and optimal inflation volatility

被引：0

作者：

Senay, Ozge ^{[2
]}

Sutherland, Alan ^{[1
]}

机构：

[1] Univ St Andrews, Dept Econ, St Andrews KY16 9AL, Fife, Scotland

[2] Middle E Tech Univ, Dept Econ, TR-06531 Ankara, Turkey

来源：

APPLIED ECONOMICS LETTERS | 2008年 / 15卷 / 10期

关键词：

D O I：

10.1080/13504850600770954

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article presents a quantitative analysis of optimal inflation volatility in a simple sticky-price general equilibrium model subject to both supply and cost-push shocks. It is found that optimal policy implies a relatively small degree of inflation volatility even when cost-push shocks are the dominant source of economic disturbance. In addition, it is found that optimal policy generates only a very small welfare gain when compared to strict inflation targeting.

引用

页码：753 / 757

页数：5