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Pricing Policies and Inflation Inertia
Kumhof, Michael; Céspedes, Luis Felipe; Parrado, Eric - International Monetary Fund (IMF) - 2003
shocks this model generates the empirically observed slow (inertial) and prolonged (persistent) reaction of the inflation … shocks mostly through a change in the long-run or inflation updating component of their pricing policies. With staggered … pricing policies there is a time lag before this is reflected in aggregate inflation. …
Persistent link: https://www.econbiz.de/10005599311
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Dollarization, Monetary Policy, and the Pass-Through
Ize, Alain; Parrado, Eric - International Monetary Fund (IMF) - 2002
This paper explores how real dollarization (dollar indexing of wages), financial dollarization (dollar denomination of financial contracts), and monetary policy interact in a general equilibrium, new open-economy macroeconomics model with real shocks. Real dollarization is avoided as long as the...
Persistent link: https://www.econbiz.de/10005826531