Imperfect Credibility and Inflation Persistence
نویسندگان
چکیده
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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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.293106