Desinflação Ótima na Presença de Inércia Inflacionária, Formação de Hábito e Fricções Monetárias

Marco A Cavalcanti

Revista Brasileira de Economia - RBE, 2010, vol. 64, issue 4

Abstract: This paper investigates the properties of optimal disinflation policies in a 'New-Keynesian' monetary general equilibrium model, seeking to identify conditions under which: (i) the optimal disinflationary path involves significant output losses; (ii) a 'rapid' disinflation is preferable to a 'gradual' one. According to our results, different degrees of monetary frictions and inertia in output or inflation may lead to different optimal disinflationary policies - some of which will be quick and painless, while others will proceed slowly and generate deep recessions.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgrbe:v:64:y:2010:i:4:a:1112

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