Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10419/3308Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Karanassou, Marika | - |
| dc.creator | Snower, Dennis J. | - |
| dc.date | 2004 | - |
| dc.date.accessioned | 2013-10-16T06:20:21Z | - |
| dc.date.available | 2013-10-16T06:20:21Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/3308 | - |
| dc.identifier | ppn:396014976 | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/3308 | - |
| dc.description | It is commonly asserted that inflation is a jump variable in the New Keynesian Phillips curve, and thus wage-price inertia does not imply inflation inertia. We show that this "inflation flexibility proposition" is highly misleading, relying on the assumption that real variables are exogenous. In a general equilibrium setting (in which real variables not only affect inflation, but are also influenced by it) the phenomenon of inflation inertia re-emerges. Under plausible parameter values, high degrees of inflation persistence (prolonged after-effects of inflation in response to temporary money growth shocks) and under-responsiveness (prolonged effects in response to permanent shocks) can arise in the context of standard wage-price staggering models. | - |
| dc.language | eng | - |
| dc.publisher | Department of Economics, Queen Mary College London | - |
| dc.relation | Working paper series, Department of Economics, Queen Mary College, London 518 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | E31 | - |
| dc.subject | E63 | - |
| dc.subject | E42 | - |
| dc.subject | E32 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Inflation persistence , Wage-price staggering , New Keynesian Phillips curve , Nominal inertia , Monetary policy , Forward-looking expectations | - |
| dc.subject | Inflation | - |
| dc.subject | Ungleichgewichtstheorie | - |
| dc.subject | Phillips-Kurve | - |
| dc.subject | Theorie | - |
| dc.title | Inflation persistence revisited | - |
| dc.type | doc-type:workingPaper | - |
| Appears in Collections: | EconStor | |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.