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explain the cross-correlation between output and inflation? What are the effects of productivity on hours worked? What are the …
Persistent link: https://www.econbiz.de/10005060011
This paper develops and estimates a dynamic stochastic general equilibrium (DSGE) model with sticky prices and wages for the euro area. The model incorporates various other features such as habit formation, costs of adjustment in capital accumulation and variable capacity utilisation. It is...
Persistent link: https://www.econbiz.de/10005060018
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are: i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …
Persistent link: https://www.econbiz.de/10005060038
staggered price setting will aim at minimising a weighted average of domestic and import price inflation. …
Persistent link: https://www.econbiz.de/10005060039
inflation and output play an important role. In this paper we illustrate how modern sticky-price dynamic stochastic general … distribution of the forecast, as well as various inflation risk measures that have been proposed in the literature. Finally, the …
Persistent link: https://www.econbiz.de/10005031936