Inflation Stabilization and Welfare

By Michael Woodford. 2002

363 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8eaa56ed859cfa4ac15ad1815dc91ced558ab71c

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In Economics and Econometrics

Citations in the corpus

Price Stability in Open Economies (2003, background): “In general, a policy of state-contingent notional-price in°ation is optimal although we do not quantify its dimension here.”
Estimated General Equilibrium Models for the Evaluation of Monetary Policy in the Us and Europe (2005, background): “A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data.”
The Case for Price Stability (2001, result): “34 There is a discrepancy between our results in this section and suggestions in Rotemberg and Woodford (1997) and Woodford (2001) that zero inflation is optimal irrespective of the nature of the shocks.”
Optimal Monetary Policy at the Zero-Interest-Rate Bound (2005, background): “Woodford, Michael (1999b).”
Inflation Persistence and Optimal Monetary Policy in the Euro Area (2002, methodology): “See, for instance Rotemberg and Woodford (1997), Woodford (2002), (Woodford (2003a), and Erceg, Henderson, and Levin (2000).”
A Phillips Curve with an Ss Foundation (2005, background): “55 percent of revenue, on the basis of the evidence in Zbaracki et al. (2004) and Levy et al.”
Monetary Institutions, Monopolistic Competition, Unionized Labor Markets and Economic Performance (2006, neutral): “The timing sequence we adopt abstracts from the incentive of the CB to expand output in order to overcome the welfare inefficiency caused by monopolistic competition stressed by Woodford (1999). This modeling strategy is adopted in order to highlight the incentive of the CB to expand employment abov”
The policy preferences of the US Federal Reserve (2004, neutral): “Finally, Woodford (2002) shows that objectives functions similar to equation (3) can be derived as a quadratic approximation to a representative agent's discounted intertemporal utility function.”
Optimal fiscal and monetary policy under sticky prices (2004, neutral): “2See, for example, Erceg et al. (2000), Gaĺı and Monacelli (2000), Khan, King, and Wolman (2000), Rotemberg and Woodford (1999), Woodford (1999), and Woodford (2000).”