increase according to trends in productivity and the target inflation rate of the central bank. Wage developments without …

generate substantial inflation. Such a shock induces an equilibrium decline in the relative price of services. If price … increase in goods prices, resulting in, on net, little inflation. If prices in the services sector are downwardly rigid …, however, this takes place mostly through an increase in goods prices, resulting in inflation. To illustrate the relevance of …

resulting Phillips curve involves lagged inflation and lagged expectations. It nests the Calvo NKPC as a limiting case in the … inflation always has negative coefficients, thereby making it impossible to interpret inflation persistence as intrinsic. The … numerical evaluation shows that the increasing hazard function leads to hump-shaped impulse responses of inflation to monetary …

inflation and real rigidity. Analytically, I find that important dynamics in the NKPC are canceled out due to the restrictive … dynamic structure introduced by the non-constant hazards is also quantitatively important to the inflation dynamics …. Incorporation of real rigidity and trend inflation strengthen this effect even further. With reasonable parameter values, the model …

model presents a 'price rule' for government spending that ensures that the ELR is not a source of inflation. Indeed, the … ; Income Transfers ; Investment Subsidies ; Direct Job Creation ; Employer of Last Resort ; Inflation ; Income Distribution …

al., 2010) showing that a random walk dynamic component accounts for much of the persistence in inflation. I use a time …-dependent sticky price model and study the mapping from disturbances to the price reset hazard function to inflation dynamics. I show … of inflation …

paper arrives at a “structuralist inflation targeting agenda”. Based on a proper conception of inflation dynamics, this …This paper develops a model of inflation in an open economy. The model permits analysis of the susceptibility of open … involves “getting inflation targeting right” rather than either accepting mainstream inflation targeting prescriptions or …

We theoretically investigate the role of expectations in modelling economic activity and the evolution of inflation … role in explaining the inflation rate and real economic growth in the UK …

principal repayment) into the consumption and investment expenditures, as well as into the inflation-generating process. We … explore the way that finance influences the distribution effects of inflation in the demand-side of a money … inflation on the rate of employment; and that they might be conducive to a negative supply-side effect of employment on the …