というNBER論文が上がっている(ungated(SSRN)版)。原題は「A Note on Temporary Supply Shocks with Aggregate Demand Inertia」で、著者はRicardo J. Caballero(MIT)、Alp Simsek(イェール大)。 以下はその要旨。 We study optimal monetary policy during temporary supply contractions when aggregate demand has inertia and expansionary policy is constrained. In this environment, it is optimal to run the economy hot until supply recovers. Positive output