Optimal Monetary Policy with Relative Price Distortions

By Tack Yun. 2005

153 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

OccBin: A Toolkit for Solving Dynamic Models With Occasionally Binding Constraints Easily (2015, methodology): “Following Yun (2005), aggregate supply Yt can be shown to be equal to:”
The Macroeconomics of Trend Inflation (2014, methodology): “This result is easy to show in our framework, following Yun (2005).”
Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio? (2012, background): “Yun (2005), for instance, emphasizes the role of relative price dispersion, often neglected in linear models, in driving his results for optimal monetary policy.”
The Optimal Rate of Inflation (2010, unknown): “For a study of optimal policy in the case that this assumption is not satisfied see Yun (2005).”
Optimal Monetary Stabilization Policy (2010, background): “…output-gap-adjusted price level should be different depending on the inherited level of price dispersion; a larger initial price dispersion reduces the optimal target rate of growth in the gap-adjusted price level, as first shown by Yun (2005) in a special case that allowed an analytical solution.”