Tober, Silke; Zimmermann, Tobias - In: Intereconomics : review of European economic policy 44 (2009) 4, pp. 231-237
Against the background of the dramatic changes in the prices of oil and other raw materials in the recent past, this paper analyses the effects of commodity price shocks in a New Keynesian model. The focus is on the central bank's choice of inflation target and the degree of real wage rigidity....
