Supply side inflation persistence

We explore the role of the cost channel in accounting for inflation persistence in the New Keynesian model with Calvo pricing. Hump-shaped responses of inflation to monetary shocks are obtained under purely nominal rigidities.

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Year of publication:	2014
Authors:	Civelli, Andrea ; Zaniboni, Nicola
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 125.2014, 2, p. 191-194
Publisher:	Elsevier
Subject:	Inflation persistence \| Cost channel \| Hump-shaped responses

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Type of publication:	Article
Classification:	E31 - Price Level; Inflation; Deflation ; E44 - Financial Markets and the Macroeconomy ; E51 - Money Supply; Credit; Money Multipliers
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011076533