Discussion of What Drives Inflation in the World?
نویسنده
چکیده
It is a pleasure to comment on the paper by César Calderón and Klaus SchmidtHebbel. Typically, when economists ask the question ‘what drives inflation?’, explanations turn to monetary factors. The problem of inflation control is naturally encapsulated in the new Keynesian models such as that described in Woodford (2003) and Galí (2008). An important contribution of César and Klaus’s paper is that it highlights that just focusing on monetary factors to understand inflation is insufficient.
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