Can the facts of UK inflation persistence be explainded by nominal rigidity

It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies findings of varying persistence due to changing monetary regimes, we find that models with little nominal rigidity are best equipped to explain it.

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Year of publication:	2008
Authors:	Meenagh, David ; Minford, Patrick ; Nowell, Eric ; Sofat, Prakriti ; Srinivasan, Naveen
Publisher:	Cardiff : Cardiff University, Cardiff Business School
Subject:	Inflation \| Dauer \| Geldpolitik \| Preisrigidität \| Großbritannien \| inflation persistence \| New Keynesian \| New Classical \| nominal rigidity \| monetary regime shifts

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Series:	Cardiff Economics Working Papers ; E2008/7
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	574266267 [GVK] hdl:10419/65744 [Handle]
Classification:	E31 - Price Level; Inflation; Deflation ; E37 - Forecasting and Simulation
Source:	EconStor

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010288772