أعرض تسجيلة المادة بشكل مبسط

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


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أعرض تسجيلة المادة بشكل مبسط