Reset Price Inflation and the Impact of Monetary Policy Shocks
inflation. We find that time-dependent models imply unrealistically high persistence and stability of reset price inflation. This discrepancy is exacerbated by adding strategic complementarities, even under state-dependent pricing. A state-dependent model with no strategic complementarities aligns most closely with the data.
Year of publication: |
2010
|
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Authors: | Klenow, Pete ; Malin, Ben ; Bils, Mark |
Institutions: | Society for Economic Dynamics - SED |
Saved in:
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