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Revista Brasileira de Economia

Print version ISSN 0034-7140

Abstract

CAVALCANTI, Marco A. F. H.. Desinflação ótima na presença de inércia inflacionária, formação de hábito e fricções monetárias. Rev. Bras. Econ. [online]. 2010, vol.64, n.4, pp.343-371. ISSN 0034-7140.  http://dx.doi.org/10.1590/S0034-71402010000400001.

This paper investigates the properties of optimal disinflation policies in a 'New-Keynesian' monetary general equilibrium model, seeking to identify conditions under which: (i) the optimal disinflationary path involves significant output losses; (ii) a 'rapid' disinflation is preferable to a 'gradual' one. According to our results, different degrees of monetary frictions and inertia in output or inflation may lead to different optimal disinflationary policies - some of which will be quick and painless, while others will proceed slowly and generate deep recessions.

Keywords : Política Monetária; Desinflação; Regras Ótimas.

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