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首页> 外文期刊>Journal of Economic Dynamics and Control >Disinflation in a DSGE perspective: Sacrifice ratio or welfare gain ratio?
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Disinflation in a DSGE perspective: Sacrifice ratio or welfare gain ratio?

机译:DSGE的通货膨胀:牺牲率还是福利增加率?

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摘要

When used to examine disinflation monetary policies, the current workhorse dynamic stochastic general equilibrium model of business cycle fluctuations is able to quantitatively account for the main stylized facts in terms of recessionary effects and sacrifice ratio. We complement the transitional analysis of the short-run costs with a rigorous welfare evaluation and show that, despite the long-lasting economic downturn, disinflation entails non-zero overall welfare gains.
机译:当用于研究通货紧缩的货币政策时,当前的经济周期动态的动态随机一般均衡模型可以从衰退效应和牺牲比率的角度定量说明主要的程式化事实。我们通过严格的福利评估对短期成本的过渡分析进行补充,并显示,尽管经济长期衰退,通货膨胀仍会带来总体福利收益不为零。

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