Karanassou, Marika; Snower, Dennis J. - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
persistence (Blanchard and Gali (2005), and Mankiw and Reis (2002) are two prominent
recent examples).
2
It is important to …-run NPC and the "persis-
1
See, for example, Westelius (2005).
2
See also Christiano, Eichenbaum, and Evans (2001), Dotsey … permanent shock, the longer it takes inflation to reach its new equilibrium the higher the persistence.
2
tency puzzle" are the …