The price puzzle revisited : can the cost channel explain a rise in inflation after a monetary shock?

Steffen Henzel; Oliver Hülsewig; Eric Mayer; Timo Wollmershäuser

This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary contraction.

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Year of publication:	June 2007
Authors:	Henzel, Steffen ; Hülsewig, Oliver ; Mayer, Eric ; Wollmershäuser, Timo
Publisher:	Würzburg : Univ., Lehrstuhl für VWL 1
Subject:	Geldpolitische Transmission \| Monetary transmission \| Inflation \| Geldpolitik \| Monetary policy \| Schock \| Shock \| Neoklassische Synthese \| Neoclassical synthesis \| Theorie \| Theory \| Schätzung \| Estimation \| EU-Staaten \| EU countries

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Extent:	Online-Ressource, 47 S., Text graph. Darst.
Series:	Würzburg economic papers : WEP. - Würzburg : Julius-Maximilians-Universität Würzburg, Volkswirtschaftliches Institut, ISSN 2941-7651, ZDB-ID 2135304-9. - Vol. 74
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Source:	ECONIS - Online Catalogue of the ZBW

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