Optimal inflation for the U.S.

Preprint OPEN
Roberto M. Billi;
  • Subject: Inflation (Finance)
    arxiv: General Relativity and Quantum Cosmology

What is the correctly measured inflation rate that monetary policy should aim for in the long-run? This paper characterizes the optimal inflation rate for the U.S. economy in a New Keynesian sticky-price model with an occasionally binding zero lower bound on the nominal... View more
  • References (46)
    46 references, page 1 of 5

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