Arbeitspapier
Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio?
When taken to examine disinflation monetary policies, the current workhorse DSGE model of business cycle fluctuations successfully accounts for the main stylized facts in terms of recessionary effects and sacrifice ratio. We complement the transitional analysis of the short-run costs with a rigorous welfare evaluation and show that, despite the long-lasting economic downturn, disinflation entails non-zero overall welfare gains.
- Language
-
Englisch
- Bibliographic citation
-
Series: Kiel Working Paper ; No. 1499
Price Level; Inflation; Deflation
Sacrifice ratio
Non-linearities
Inflationsbekämpfung
Geldpolitik
Wohlfahrtseffekt
Konjunkturtheorie
Dynamisches Gleichgewicht
Theorie
Ropele, Tiziano
- Handle
- Last update
-
20.09.2024, 8:23 AM CEST
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ascari, Guido
- Ropele, Tiziano
- Kiel Institute for the World Economy (IfW)
Time of origin
- 2009