inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after … an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …

inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after … an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …

inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after … an expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts of average …

We present a model embodying moderate amounts of nominal rigidities that accounts for the observed inertia in inflation … expansionary shock to monetary policy. Of these features, the most important are staggered wage contracts that have an average …

This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …