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behaviour is present. A main finding, for the US, is that after credibility-building and disinflation have been established, the …
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The popular Calvo model with indexation (Christiano, Eichenbaum and Evans, 2005) and sticky information (Mankiw and Reis, 2002) model have guided much of the monetary policy discussion. The strength of these approaches is that they can explain the persistence of inflation. However, both of these...
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behaviour is present. A main finding, for the US, is that after credibility-building and disinflation have been established, the …
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behaviour is present. A main finding, for the US, is that after credibility-building and disinflation have been established, the …
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