Optimal Monetary Policy in a New Keynesian Model with Habits in Consumption

In this paper we consider the implications of habits for optimal monetary policy, when those habits either exist at the level of the aggregate basket of consumption goods (`superficial' habits) or at the level of individual goods (`deep' habits: see Ravn, Schmitt-Grohe, and Uribe (2006))....

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Bibliographic details
Volume: 15
Main Author: Leith, Campbell
Moldovan, Ioana
Rossi, Raffaele
Format: Journal Article
Language: English
Place of publication: Elsevier for the Society for Economic Dynamics 2012
published in: Review of Economic Dynamics Vol. 15; no. 3; pp. 416 - 435
Data of publication: 2012
Series: Review of Economic Dynamics
Subjects:
Online Access: available in Bonn?
Database: RePEc
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