New evidence on inflation persistence and price stickiness in the Euro area: Implications for macro modelling

This paper evaluates new evidence on price setting practices and inflation persistence in the euro area with respect to its implications for macro modelling. It argues that several of the most commonly used assumptions in micro-founded macro models are seriously challenged by the new findings.

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Year of publication:	2005-09
Authors:	Angelloni, Ignazio ; Aucremanne, Luc ; Ehrmann, Michael ; Galí, Jordi ; Levin, Andrew ; Smets, Frank
Institutions:	Department of Economics and Business, Universitat Pompeu Fabra
Subject:	Price setting practices \| macro modellling

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Extent:	application/pdf
Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	E31 - Price Level; Inflation; Deflation ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005771957