Arbeitspapier

Disinflation in a DSGE Perspective: Sacrifice Ratio or Welfare Gain Ratio?

When used to examine disinflation monetary policies, the current workhorse dynamic stochastic general equilibrium model of business cycle fluctuations is able to quantitatively account for the main stylized facts in terms of recessionary effects and sacrifice ratio. We complement the transitional analysis of the short-run costs with a rigorous welfare evaluation and show that, despite the long-lasting economic downturn, disinflation entails non-zero overall welfare gains.

Sprache
Englisch

Erschienen in
Series: Quaderni di Dipartimento ; No. 111

Klassifikation
Wirtschaft
Price Level; Inflation; Deflation
Thema
Disinflation
Sacrifice ratio
Non-linearities

Ereignis
Geistige Schöpfung
(wer)
Ascari, Guido
Ropele, Tiziano
Ereignis
Veröffentlichung
(wer)
Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
(wo)
Pavia
(wann)
2010

Handle
Letzte Aktualisierung
12.07.2024, 13:20 MESZ

Objekttyp

  • Arbeitspapier

Beteiligte

  • Ascari, Guido
  • Ropele, Tiziano
  • Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)

Entstanden

  • 2010

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