BIS Working Papers No 1203: Strike while the iron is hot: optimal monetary policy with a nonlinear Phillips curve
- 1 minute reading time
In this paper, we build a menu cost model and use it to investigate how the fact that firms update prices more often in inflationary environments affects the optimal design of monetary policy.
Continue reading with a PwC Plus-Subscription
- verified Information source
- daily updates
- completely searchable articles (with refiner)
- tailored alert