| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7569 |
| DP7569 Inequality and Aggregate Savings in the Neoclassical Growth Model | |
| Reto Foellmi | |
| 发表日期 | 2009-11-22 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper studies whether the central bank should adjust its inflation target to account for the systematic upward bias in measured inflation due to quality improvements in consumption goods. We show that the answer to this question depends on what prices are assumed to be sticky. If nonquality-adjusted prices are assumed to be sticky, then the inflation target should not be corrected. If, on the other hand, quality-adjusted (or hedonic) prices are assumed to be sticky, then the inflation target should be raised by the magnitude of the bias. |
| 主题 | International Macroeconomics |
| 关键词 | Inflation targets Quality bias Ramsey policy |
| URL | https://cepr.org/publications/dp7569 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536406 |
| 推荐引用方式 GB/T 7714 | Reto Foellmi. DP7569 Inequality and Aggregate Savings in the Neoclassical Growth Model. 2009. |
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