Strike While the Iron Is Hot: Optimal Monetary Policy with a Nonlinear Phillips Curve
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- Karadi, Peter & Nakov, Anton & Nuño, Galo & Pasten, Ernesto & Thaler, Dominik, 2024. "Strike while the Iron is Hot: Optimal Monetary Policy with a Nonlinear Phillips Curve," CEPR Discussion Papers 19339, C.E.P.R. Discussion Papers.
- Peter Karadi & Anton Nakov & Galo Nuno Barrau & Ernesto Pasten & Dominik Thaler, 2024. "Strike while the iron is hot: optimal monetary policy with a nonlinear Phillips curve," BIS Working Papers 1203, Bank for International Settlements.
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More about this item
Keywords
state-dependent pricing; large shocks; nonlinear Phillips curve; optimal monetary policy;All these keywords.
JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2024-11-25 (Banking)
- NEP-DGE-2024-11-25 (Dynamic General Equilibrium)
- NEP-MON-2024-11-25 (Monetary Economics)
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