Search Results - subject:"Inflation persistence"

Optimal Monetary Policy Under Inflation Targeting: Is Zero the Optimal Perception of Inflation Inertia?

Paez-Farrell, Juan - Economics Section, Cardiff Business School - 2007

were no structural inflation persistence in order to improve welfare. This paper considers whether such a strong result …

Persistent link: https://www.econbiz.de/10005212006

The Rise and Fall of U.S. Inflation Persistence

Beechey, Meredith; Österholm, Pär - 2007

This paper estimates the path of inflation persistence in the United States over the last 50 years and draws … predict that the central bank's preference for output stability is a determinant of inflation persistence. Hence, time … variation of that preference should be reflected in changes in inflation persistence. We estimate an ARMA(1,q) model with a time …

Persistent link: https://www.econbiz.de/10010321537

Optimal monetary policy under inflation targeting: Is zero the optimal perception of inflation inertia?

Páez-Farrell, Juan - 2007

were no structural inflation persistence in order to improve welfare. This paper considers whether such a strong result …

Persistent link: https://www.econbiz.de/10010322789

The Dynamics of European Inflation Expectations

Döpke, Jörg; Dovern, Jonas; Fritsche, Ulrich; … - 2006

We investigate the relevance of the Carroll?s sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the...

Persistent link: https://www.econbiz.de/10010260945

Sticky Information Phillips Curves: European Evidence

Döpke, Jörg; Dovern, Jonas; Fritsche, Ulrich; … - 2006

We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in...

Persistent link: https://www.econbiz.de/10010260978

The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics

Christoffel, Kai; Linzert, Tobias - 2006

In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...

Persistent link: https://www.econbiz.de/10010295799

The euro and inflation uncertainty in the European Monetary Union

Caporale, GM; Kontonikas, A - 2006

the important exception of Germany, where the trend has become positive), steady-state inflation uncertainty and inflation … persistence have both increased, and the relationship between inflation and inflation uncertainty has broken down in many …

Persistent link: https://www.econbiz.de/10009481432

The Dynamics of European Inflation Expectations

Dovern, Jonas; Doepke, Joerg; Fritsche, Ulrich; … - 2006

We investigate the relevance of the Carroll's sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the...

Persistent link: https://www.econbiz.de/10010420822

Sticky Information Phillips Curves: European Evidence

Dovern, Jonas; Doepke, Joerg; Fritsche, Ulrich; … - 2006

We estimate the sticky information Phillips curve model ofMankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in...

Persistent link: https://www.econbiz.de/10010420823

Firm-specific production factors in a DSGE model with Taylor price setting

De Walque, Gregory; Smets, Frank; Wouters, Raf - 2006

This paper compares the Calvo model with a Taylor contracting model in the context of the Smets-Wouters (2003) Dynamic Stochastic General Equilibrium (DSGE) model. In the Taylor price setting model, we introduce firm-specific production factors and discuss how this assumption can help to reduce...

Persistent link: https://www.econbiz.de/10011506607