Published Classic Review of Economic Studies Published Oct 2012The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound?Olivier Coibion · Yuriy Gorodnichenko · Johannes WielandThis 2012 Review of Economic Studies paper by Olivier Coibion, Yuriy Gorodnichenko, and Johannes Wieland asks what rate of steady-state (trend) inflation maximizes welfare in a New Keynesian DSGE …