Kyritsis, Costas; Kiochos, Petros - In: European Research Studies Journal I (1998) 4, pp. 41-60
In this short paper with title "Stochastic Refinement of the Pecorino's Optimal Inflation-Rate model", we extend the model of Pecorino to include stochastic effects. The basic result is that under natural conditions the optimality of the model's inflation rate, remains, even if we refine it to a...