rigidities impede policymakers' ability to control inflation. And third, we describe how alternative shock/rigidity combinations …

We propose an analytical method to analyze the propagation of a once-and-for-all shock in a broad class of sticky price … shock (any displacement of the invariant distribution). We present several applications and discuss extensions …

for the persistence and volatility of "reset price inflation." Reset price inflation is the rate of change of all desired …

an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …

account for the increased volatility of oil price we observe in these periods …We test for changes in price behavior in the longest crude oil price series available (1861-2008). We find strong … evidence for changes in persistence and in volatility of price across three well defined periods. We argue that historically …