A New Keynesian Phillips Curve With Staggered Contracts and Indexation

We develop a New Keynesian Phillips curve based on a combination of staggered price contracts and indexation to past inflation. This Phillips curve links current inflation dynamics to past inflation with a positive weight, as well as current and lagged expectations of inflation and output, giving a possible alternative explanation for recent empirical findings on the role of expectations in the determination of inflation.

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Year of publication:	2020-12-28
Authors:	Musy, Olivier

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Musy, Olivier (2020): A New Keynesian Phillips Curve With Staggered Contracts and Indexation.
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E31 - Price Level; Inflation; Deflation ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	BASE

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015229360