منابع مشابه
Disinfiatior, with imperfect credibility
This paper presents a theory of the real effects of disinflation. As in New Kcyncsian models, price adjustment is staggered across firms. As in New Classical models. credihiltty is imperfect: the monetary authorrty may not complete a promised disinflation. The cwnbination of imperfect credibility and staggering yields more plausible results than 4ther of these assumptions alone. In particular. ...
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The views expressed in this paper are solely those of the authors and should not be interpreted as reflecting those of the Bank of Japan or the International Department. We thank our colleagues at the Bank of Japan for helpful comments. We are particularly indebted to Koichiro Kamada (Research and Statistics Department) for his valuable comments on the empirical analysis and giving us permissio...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 1995
ISSN: 0304-3932
DOI: 10.1016/0304-3932(94)01166-8