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“Quasifundamental” Variation in the Price Level and the Inflation Rate

✍ Scribed by Steven Russell

Book ID
112257644
Publisher
Elsevier Science
Year
1997
Tongue
English
Weight
533 KB
Volume
74
Category
Article
ISSN
0022-0531

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Costly price adjustment and the optimal
Costly price adjustment and the optimal rate of inflation
✍ Jerzy D. Konieczny 📂 Article 📅 2007 🏛 John Wiley and Sons 🌐 English ⚖ 194 KB

## Abstract I analyse the optimal rate of inflation when prices are costly to change. As the costs of price adjustment are the main friction in the model, effects of inflation stem from the accounting role of money. Inflation increases relative price variability and reduces the average product of l