Search Results - subject:"Inflation inertia"

Performance of Inflation Targeting Based On Constant Interest Rate Projections

Mitra, Kaushik; Honkapohja, Seppo - Department of Economics, Royal Holloway University of London - 2004

Monetary policy is sometimes formulated in terms of a target level of inflation, a fixed time horizon and a constant interest rate that is anticipated to achieve the target at the specified horizon. These requirements lead to constant interest rate (CIR) instrument rules. Using the standard New...

Persistent link: https://www.econbiz.de/10005784819

Performance of Inflation Targeting Based on Constant Interest Rate Projections

Honkapohja, Seppo; Mitra, Kaushik - Centre for Dynamic Macroeconomic Analysis, University … - 2004

Persistent link: https://www.econbiz.de/10005698035

Performance of inflation targeting based on constant interest rate projections

Honkapohja, Seppo; Mitra, Kaushik - 2003

Persistent link: https://www.econbiz.de/10010298248

Performance of inflation targeting based on constant interest rate projections

Honkapohja, Seppo; Mitra, Kaushik - Center for Financial Studies - 2003

Persistent link: https://www.econbiz.de/10010958632

Optimal Univariate Expectations under High and Persistent Inflation : New Evidence From Turkey

Us, Vuslat; Ozcan, Kývýlcým Metin - Türkiye Ekonomi Kurumu - TEK - 2003

The poor performance of sticky-price models with rational expectations in explaining the inflationary inertia in the US economy constitutes the basis for sticky-price models of nearrational expectations in the recent literature. However, previous studies on inflationary inertia in Turkey not...

Persistent link: https://www.econbiz.de/10005059671

Performance of Inflation Targeting Based On Constant Interest Rate Projections

Honkapohja, Seppo; Mitra, Kaushik - Center for Financial Studies - 2003

under learning, inflation targeting, inertia in demand, inflation inertia 1 Introduction Inflation targeting has become a … output and inflation inertia. The MSV solution turns out to be unique but it is not E-stable: Proposition 5 CIR UK rule I … flexible in- flation targeting. 19 For simplicity, we assume µ = ρ =¯x =¯π =0.Inthe presence of inflation inertia, the …

Persistent link: https://www.econbiz.de/10005176454

Optimal Univariate Expectations under High and Persistent Inflation : New Evidence From Turkey

Us, Vuslat; Ozcan, Kıvılcım Metin - 2003

Persistent link: https://www.econbiz.de/10010322114

Optimal univariate expectations under high and persistent inflation : new evidence from Turkey

Us, Vuslat; Metin-Özcan, Kıvılcım - 2003

Persistent link: https://www.econbiz.de/10011528365

Firm-Specific Capital, Nominal Rigidities and the Business Cycle

Altig, David; Christiano, Lawrence; Eichenbaum, Martin; … - In: Review of Economic Dynamics 14 (2011) 2, pp. 225-247

This paper formulates and estimates a three-shock US business cycle model. The estimated model accounts for a substantial fraction of the cyclical variation in output and is consistent with the observed inertia in inflation. This is true even though firms in the model reoptimize prices on...

Persistent link: https://www.econbiz.de/10008516663

Inflation Persistence and Exchange Rate Regime: Implications for dynamic adjustment to shocks in a small open economy

Kuralbayeva, Karlygash - Oxford Centre for the Analysis of Resource-Rich … - 2011

The paper examines implications of inflation persistence for business cycle dynamics following terms of trade shock in a small oil producing economy, under inflation targeting and exchange rate targeting regimes. It is shown that due to the 'Walters critique' effect, the country's adjustment...

Persistent link: https://www.econbiz.de/10009275438