{"product_id":"positive-trend-inflation-in-the-new-keynesian-model-considering-different-forms-of-state-dependent-price-setting-frequency-and-different-versions-of-the-taylor-rule-von-katrin-heinrichs","title":"Positive Trend Inflation in the New Keynesian Model","description":"\u003cp\u003eIn this book, a baseline New Keynesian model is linearised around a possibly positive trend inflation rate. The trend inflation, i.e. target inflation rate, is brought about either by a forward-looking or contemporaneous Taylor rule. The model is based on the assumption of strategic complementarity in price-setting. Steady-state, determinacy and model dynamics are analysed. A focus is on different versions of trend-inflation dependent price-setting frequencies. Like in many other studies, welfare considerations do not justify an inflation target considerably above zero. It appears, however, that higher price-flexibility favours a slightly higher target. Overall, price-setting frequency is of considerable importance for the results.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838135243\"\u003e\u003ch3\u003eConsidering different forms of state-dependent price-setting frequency and different versions of the Taylor rule\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783838135243","offer_id":39441780703325,"sku":"9783838135243","price":114.9,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/6b3a8871-9945-4561-a6a3-185cef06c961.jpg?v=1775623750","url":"https:\/\/shop.autorenwelt.de\/products\/positive-trend-inflation-in-the-new-keynesian-model-considering-different-forms-of-state-dependent-price-setting-frequency-and-different-versions-of-the-taylor-rule-von-katrin-heinrichs","provider":"Autorenwelt Shop","version":"1.0","type":"link"}