Second-order approximation to the Rotemberg model around a distorted steady state

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