Are the Facts of UK Inflation Persistence to Be Explained by Nominal Rigidity or Changes in Monetary Regime?
نویسندگان
چکیده
منابع مشابه
Micro Data on Nominal Rigidity, Inflation Persistence and Optimal Monetary Policy
The popular Calvo model with indexation (Christiano, Eichenbaum and Evans (2005)) and sticky information (Mankiw and Reis (2002)) models have guided much of the monetary policy discussion. The strength of these approaches is that they can explain the persistence of inflation. However, both of these theories are inconsistent with the micro data on prices. In this paper, I evaluate the consequenc...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1026337