News shocks and inflation

This paper shows that the empirically documented disinflationary nature of news shocks is consistent with the implications of a sensibly modified version of a New Keynesian model, even if capital is introduced to the model. The modification proposed in the current paper, however, is different from those already known in the literature. In the presence of capital, the newly proposed modification is better capable of fitting the data.

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Year of publication:	2013
Authors:	Jinnai, Ryo
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 119.2013, 2, p. 176-179
Publisher:	Elsevier
Subject:	News shock \| Inflation \| Monetary policy \| Nominal rigidity

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Type of publication:	Article
Classification:	E30 - Prices, Business Fluctuations, and Cycles. General ; E40 - Money and Interest Rates. General ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010664119