Robust policy choice under Calvo and Rotemberg pricing

This paper examines the robustness of welfare-based policy choices across the nonlinear Calvo and Rotemberg pricing assumptions. Comparisons between simple interest rate rules turn out to be robust and independent of the price dispersion inherent in the Calvo setting. This robustness is violated if there is a policy alternative that controls for price dispersion.

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Year of publication:	2012-04-18
Authors:	Sienknecht, Sebastian

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Sienknecht, Sebastian (2012): Robust policy choice under Calvo and Rotemberg pricing.
Classification:	E30 - Prices, Business Fluctuations, and Cycles. General ; E58 - Central Banks and Their Policies ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	BASE

Persistent link: https://www.econbiz.de/10015231668