Inflation Persistence and the Phillips Curve Revisited

A major criticism against staggered nominal contracts is that they give rise to the so called"persistency puzzle" although they generate price inertia, they cannot account for thestylised fact of inflation persistence. It is thus commonly asserted that, in the context of thenew Phillips curve (NPC), inflation is a jump variable...

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Year of publication:	2007-02-01
Authors:	Karanassou, Marika ; Snower, Dennis J.
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Inflation \| Lohn \| Persistenz \| changing persistence

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Extent:	354304 bytes 26 p. application/pdf
Series:	IZA - Forschungsinstitut zur Zukunft der Arbeit - Discussion Papers IZA Discussion Paper ; No. 2600 (2007)
Type of publication:	Book / Working Paper
Language:	English
Classification:	E31 - Price Level; Inflation; Deflation ; E32 - Business Fluctuations; Cycles ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; Personnel administration. Other aspects ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005863257