Imperfectly Credible Disinflation under Endogenous Time-Dependent Pricing
نویسندگان
چکیده
منابع مشابه
Imperfectly Credible Disinflation under Endogenous Time-Dependent Pricing
The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. In this paper, we examine how credibility affects the outcome of a disinflation in a model with endogenous time-dependent pricing rules. Both the endogenous initial degree of price rigidity and changes in the duration of price spells during disinflation play an important role in explainin...
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ژورنال
عنوان ژورنال: Journal of Money, Credit and Banking
سال: 2010
ISSN: 0022-2879
DOI: 10.1111/j.1538-4616.2010.00308.x