dc.contributor.author | Damjanovic, Tatiana | en_GB |
dc.contributor.author | Nolan, Charles | en_GB |
dc.date.accessioned | 2013-02-18T16:02:45Z | en_GB |
dc.date.accessioned | 2013-03-19T15:58:04Z | |
dc.date.issued | 2011 | en_GB |
dc.description.abstract | Social welfare objectives are investigated when changing prices is costly (Rotemberg, 1982). A quadratic welfare function is derived, with a distorted steady state, implying inflation and output stabilization goals. Economic distortions influence inflation aversion in a way that differs from Calvo models. | en_GB |
dc.identifier.citation | Vol. 110, Issue 2, pp. 132 - 135 | en_GB |
dc.identifier.doi | 10.1016/j.econlet.2010.11.010 | en_GB |
dc.identifier.uri | http://hdl.handle.net/10036/4323 | en_GB |
dc.language.iso | en | en_GB |
dc.publisher | Elsevier | en_GB |
dc.relation.url | http://www.st-andrews.ac.uk/cdma/papers/wp0907.pdf | en_GB |
dc.relation.url | http://www.sciencedirect.com/science/journal/01651765 | en_GB |
dc.subject | Price stickiness | en_GB |
dc.subject | Rotemberg model | en_GB |
dc.subject | Costly price adjustment | en_GB |
dc.title | Second-order approximation to the Rotemberg model around a distorted steady state | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2013-02-18T16:02:45Z | en_GB |
dc.date.available | 2013-03-19T15:58:04Z | |
dc.identifier.issn | 0165-1765 | en_GB |
dc.description | Pre-print version issued as working paper in April 2010 by St Andrews University. Final version published by Elsevier; available online at http://www.sciencedirect.com/ | en_GB |
dc.identifier.journal | Economics Letters | en_GB |