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Desinflação ótima na presença de inércia inflacionária, formação de hábito e fricções monetárias

Listed author(s):
  • Cavalcanti, Marco A
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    This paper investigates the properties of optimal disinflation policies in a 'New-Keynesian' monetary general equilibrium model, seeking to identify conditions under which: (i) the optimal disinflationary path involves significant output losses; (ii) a 'rapid' disinflation is preferable to a 'gradual' one. According to our results, different degrees of monetary frictions and inertia in output or inflation may lead to different optimal disinflationary policies - some of which will be quick and painless, while others will proceed slowly and generate deep recessions.

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    File URL: http://bibliotecadigital.fgv.br/ojs/index.php/rbe/article/view/1112
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    Article provided by FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil) in its journal Revista Brasileira de Economia.

    Volume (Year): 64 (2010)
    Issue (Month): 4 (December)
    Pages:

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    Handle: RePEc:fgv:epgrbe:v:64:y:2010:i:4:a:1112
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