|
|
|
|
| LEADER |
01690cas a2200265 a 4500 |
| 001 |
AALejournalIMF001852 |
| 008 |
230101c9999 xx r poo 0 0eng d |
| 020 |
|
|
|c 5.00 USD
|
| 020 |
|
|
|z 9781451844924
|
| 022 |
|
|
|a 1018-5941
|
| 040 |
|
|
|a BD-DhAAL
|c BD-DhAAL
|
| 100 |
1 |
|
|a Calvo, Guillermo.
|
| 245 |
1 |
0 |
|a Nominal Exchange Rate Anchoring Under Inflation Inertia /
|c Guillermo Calvo, Michael Kumhof, Oya Celasun.
|
| 264 |
|
1 |
|a Washington, D.C. :
|b International Monetary Fund,
|c 2002.
|
| 300 |
|
|
|a 1 online resource (36 pages)
|
| 490 |
1 |
|
|a IMF Working Papers
|
| 500 |
|
|
|a <strong>Off-Campus Access:</strong> No User ID or Password Required
|
| 500 |
|
|
|a <strong>On-Campus Access:</strong> No User ID or Password Required
|
| 506 |
|
|
|a Electronic access restricted to authorized BRAC University faculty, staff and students
|
| 520 |
3 |
|
|a This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable goods sector of a small open economy. Unlike current theories of sticky prices, transitions to a lower steady state inflation rate take time even if they are fully credible, and they are associated with significant output losses in nontradables There is a welfare trade-off between these output losses and the gains from smaller inflationary distortions. Gains exceed losses for most calibrations. The optimal steady state is the Friedman rule.
|
| 538 |
|
|
|a Mode of access: Internet
|
| 700 |
1 |
|
|a Celasun, Oya.
|
| 700 |
1 |
|
|a Kumhof, Michael.
|
| 830 |
|
0 |
|a IMF Working Papers; Working Paper ;
|v No. 2002/030
|
| 856 |
4 |
0 |
|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2002/030/001.2002.issue-030-en.xml
|z IMF e-Library
|