Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/1108
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dc.contributor.authorEkşi, Ozan-
dc.date.accessioned2019-05-23T05:53:21Z
dc.date.available2019-05-23T05:53:21Z
dc.date.issued2015-12
dc.identifier.citationEksi, O. (2015). Endogenous markups in the new Keynesian model: Implications for inflation–output trade-off and welfare. Economic Modelling, 51, 626-634.en_US
dc.identifier.issn0264-9993
dc.identifier.othernumber of pages 9
dc.identifier.urihttps://doi.org/10.1016/j.econmod.2015.09.005-
dc.identifier.urihttps://hdl.handle.net/20.500.11851/1108-
dc.description.abstractThis paper extends the standard new Keynesian (NK) model by using the endogenous markup setting a la Kimball (1995). In this setting, consumers' price elasticity of demand for a good is increasing in the good's relative price level, which affects the desired price markup of firms. In the literature, this setting is mainly used to improve the NK models in matching sluggishness of prices in the data. Our paper analyzes the monetary policy implications of the model. It is shown that unlike the cases of real wage rigidity and exogenous markup shocks, the endogenous markup setting does not improve the NK models in generating the inflation-output trade-off. It is also discussed that the optimal monetary policy in this environment is to target the flexible price equilibrium. (C) 2015 Elsevier B.V. All rights reserved.en_US
dc.language.isoenen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartofEconomic Modellingen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectinflation-output trade-offen_US
dc.subjectendogenous markupsen_US
dc.subjectmonetary policyen_US
dc.titleEndogenous Markups in the New Keynesian Model: Implications for Inflation-Output Trade-Off and Welfareen_US
dc.typeArticleen_US
dc.departmentFaculties, Faculty of Economics and Administrative Sciences, Department of Economicsen_US
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümütr_TR
dc.identifier.volume51
dc.identifier.startpage626
dc.identifier.endpage634
dc.authorid0000-0002-0167-8273-
dc.identifier.wosWOS:000364892200058en_US
dc.identifier.scopus2-s2.0-84942799869en_US
dc.institutionauthorEkşi, Ozan-
dc.identifier.doi10.1016/j.econmod.2015.09.005-
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.identifier.scopusqualityQ2-
item.openairetypeArticle-
item.languageiso639-1en-
item.grantfulltextnone-
item.fulltextNo Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
crisitem.author.dept04.01. Department of Economics-
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection
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