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Inflation persistence in the European Union, the Euro Area, and the United States
Gadzinski, Gregory (contributor);  … - 2004
Persistent link: https://www.econbiz.de/10002555506
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Staggered price contracts and inflation persistence : some general results
Whelan, Karl (contributor) - 2004
Persistent link: https://www.econbiz.de/10002555514
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Explicit inflation objectives and macroeconomic outcomes
Levin, Andrew T. (contributor);  … - 2004
Persistent link: https://www.econbiz.de/10002233684
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Convex supply curves
Boehm, Christoph E.; Pandalai-Nayar, Nitya - 2020
We provide evidence that industries' supply curves are convex. To guide our empirical analysis, we develop a model, in which capacity constraints at the plant level generate convex supply curves at the industry level. The industry's capacity utilization rate is a sufficient statistic for the...
Persistent link: https://www.econbiz.de/10012271523
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Dynamic fiscal limits and monetary-fiscal policy interactions
Battistini, Niccolò; Callegari, Giovanni; Zavalloni, Luca - 2019
changes in inflation and the output gap. On this basis, we assess the trade-off between economic stabilization and debt …
Persistent link: https://www.econbiz.de/10011997483
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The Phillips curve at the ECB
Eser, Fabian; Karadi, Peter; Lane, Philip R.; Moretti, Laura - 2020
We explain the role of the Phillips Curve in the analysis of the economic outlook and the formulation of monetary policy at the ECB. First, revisiting the structural Phillips Curve, we highlight the challenges in recovering structural parameters from reduced-form estimates and relate the...
Persistent link: https://www.econbiz.de/10012212851
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What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
an estimated DSGE model. It finds that the disconnect is due primarily to the muted reaction of inflation to cost … inflation stabilization also appears to have played some role by reducing the impact of demand shocks on the real economy. The …
Persistent link: https://www.econbiz.de/10012241237
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Attenuating the forward guidance puzzle : implications for optimal monetary policy
Nakata, Taisuke; Ogaki, Ryota; Schmidt, Sebastian; Yoo, Paul - 2019
We examine the implications of less powerful forward guidance for optimal policy using a sticky-price model with an effective lower bound (ELB) on nominal interest rates as well as a discounted Euler equation and Phillips curve. When the private-sector agents discount future economic conditions...
Persistent link: https://www.econbiz.de/10011959272
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Demographics and inflation in the euro area : a two-sector new Keynesian perspective
Lis, Eliza Magdalena; Nickel, Christiane; Papetti, Andrea - 2020
Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent … downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation … inflation found in the data for the euro area. In this model, continuing to follow the same rule makes inflation to be on a …
Persistent link: https://www.econbiz.de/10012181303
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Inflation persistence and robust monetary policy design
Coenen, Günter - 2003
This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of...
Persistent link: https://www.econbiz.de/10009635885