Author: Juan A. GarcíaPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Essays in Credibility and the Source of Inflation Persistence
Author: Juan A. GarcíaEssays in Inflation Persistence
Author: Solange GouveaEssays in Credibility and the Source of Inflation Persistence
Author: Juan A. GarcíaPersistent Inflation
Author: Phillip CaganPublisher: New York : Columbia University Press
ISBN: 9780231047296
Category : Business & Economics
Languages : en
Pages : 283
Book Description
As the political agenda of Nazi Germany grew to diverge from the agenda of the U.S. and other democratic countries, an important question began to evolve. How far could this political and economic compatibility, or incompatibility, be stretched? And what would such compatibilities hold for the contemporary "global economy"?
Essays on Inflation Stabilization in a Small Open Economy
Author: Hyuk-jae RheePublisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 332
Book Description
Essays on Labor Market Rigidities, Inflation Persistence and Monetary Policy Uncertainty
Author: Pau RabanalEssays on Inflation
Author: Thomas M. HumphreyPublisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 340
Book Description
Essays on Inflation and Wage Dynamics
Author: Insu KimPublisher:
ISBN: 9781109711059
Category : Inflation (Finance)
Languages : en
Pages : 118
Book Description
This dissertation proposes a new Phillips curve that is able to endogenously generate inflation persistence in a profit-maximizing framework featuring sticky prices, in response to the critique to ad-hoc approaches directly incorporating a lagged inflation term into the Phillips curve by assuming that a fraction of firms reset their prices by automatic indexation to past period's inflation rate. In order to generate a lagged inflation term as a source of inflation persistence, I assume that although firms change their prices at discrete time intervals, they can not completely adjust prices due convex costs of changing prices. Hence, this dissertation introduces dual price stickiness with respect to the frequency and size of price adjustment. In addition to the dual price stickiness, this dissertation investigates the potential presence of dual wage stickiness: with respect to both the frequency as well as the size of wage adjustments. In particular, I derive a model of wage inflation dynamics assuming that although workers adjust wage contracts at discrete time intervals, they are limited in their abilities to adjust wages as much as they might desire.
Essays on Exchange Rate-based Stabilization and Inflation Convergence
Author: Piero S. GhezziA Note on Inflation Persistence
Author: Steinar HoldenPublisher:
ISBN: 9788275532051
Category : Economics
Languages : en
Pages : 13
Book Description
Macroeconomists have for some time been aware that the New Keynesian Phillips curve, though highly popular in the literature, cannot explain the persistence observed in actual inflation. We argue that two of the more prominent alternative formulations, the Fuhrer and Moore (1995) relative contracting model and the Blanchard and Katz (1999) reservation wage conjecture, are highly problematic. Fuhrer and Moore (1995)'s formulation generates inflation persistence, but this is a consequence of their assuming that workers care about the past real wages of other workers. Making the more reasonable assumption that workers care about the current real wages of other workers, one obtains the standard formulation with no inflation persistence. The Blanchard and Katz conjecture turns out to imply that inflation depends negatively on itself lagged, i.e. the opposite of the empirical regularity