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Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/57628
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dc.contributor.authorCollard, F.-
dc.contributor.authorDellas, H.-
dc.date.issued2005-
dc.identifier.citationJournal of Monetary Economics, 2005; 52(1):249-273-
dc.identifier.issn0304-3932-
dc.identifier.urihttp://hdl.handle.net/2440/57628-
dc.description.abstractWe investigate the case for price stability in the general version of the New Keynesian (NNS) model with capital and several shocks. The model includes, in addition to the standard imperfect competition and monetary frictions, a non-trivial, endogenous tax distortion. We find that the case for perfect price stability is not significantly weakened. Optimal policy tolerates a small amount of output gap and price variability by reacting less strongly to supply and fiscal shocks in comparison to a policy that aims at perfect price stabilization.-
dc.description.statementofresponsibilityFabrice Collard and Harris Dellas-
dc.description.urihttp://www.elsevier.com/wps/find/journaldescription.cws_home/505566/description#description-
dc.language.isoen-
dc.publisherElsevier Science BV-
dc.source.urihttp://dx.doi.org/10.1016/j.jmoneco.2004.08.003-
dc.subjectPrice stability-
dc.subjectTax distortions-
dc.subjectOptimal monetary policy-
dc.titleTax distortions and the case for price stability-
dc.typeJournal article-
dc.identifier.doi10.1016/j.jmoneco.2004.08.003-
pubs.publication-statusPublished-
Appears in Collections:Aurora harvest
Economics publications

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