منابع مشابه
Michael Gail
This paper examines the role of habit persistence in consumption in explaining persistent responses of inflation and output to money growth shocks. A monetary stochastic dynamic general equilibrium (DGE) model with a money-in-the-utility-function (MIU-) setup is augmented by habit formation in consumption and evaluated for both Taylor and Calvo price staggering. It is shown that in the benchmar...
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ژورنال
عنوان ژورنال: Nature
سال: 2009
ISSN: 0028-0836,1476-4687
DOI: 10.1038/462573a