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Endogenous Indexing and Monetary Policy Models
Mash, Richard - 2007
Models in which firms use a rule of thumb or partial indexing in price setting are prominent in the recent monetary …
Persistent link: https://www.econbiz.de/10010295244
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Endogenous Indexing and Monetary Policy Models
Mash, Richard - 2007
Models in which firms use rules of thumb or partial indexing in their price setting have become prominent in the recent …
Persistent link: https://www.econbiz.de/10010260593
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Simple Pricing Rules, the Phillips Curve and the Microfoundations of Inflation Persistence
Mash, Richard - Money Macro and Finance Research Group - 2007
Models in which pricing decisions depend on indexing or rule of thumb behaviour have become prominent in the monetary … degree of indexing such that firms move closer to constrained optimal prices and find that the degree of indexing depends … which the degree of indexing is fixed are vulnerable to the Lucas critique since that parameter will change in different …
Persistent link: https://www.econbiz.de/10004978131
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Endogenous Indexing and Monetary Policy Models
Mash, Richard - Institut für Weltwirtschaft (IfW) - 2007
Models in which firms use rules of thumb or partial indexing in their price setting have become prominent in the recent …
Persistent link: https://www.econbiz.de/10005818884
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Simple Pricing Rules, the Phillips Curve and the Microfoundations of Inflation Persistence
Mash, Richard - Society for Computational Economics - SCE - 2005
We analyze the microfoundations of the Phillips curve, a key relationship in general macroeconomics and models of … Evans (JPE, 2005) and Gali and Gertler (JME, 1999) have attempted to provide such microfoundations through the assumption of … indexing or rule of thumb behaviour. We question the nature of the indexing rules or rules of thumb assumed and re-derive these …
Persistent link: https://www.econbiz.de/10005342993
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Optimising Microfoundations for Inflation Persistence
Mash, Richard - Department of Economics, Oxford University - 2004
based on optimising microfoundations and consistent with the data, especially observed persistence in inflation and output …
Persistent link: https://www.econbiz.de/10004977859
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Optimising Microfoundations for Inflation Persistence
Mash, Richard - Society for Computational Economics - SCE - 2006
We connect two major strands of the recent monetary policy literature, i) the search for well microfounded optimising models consistent with macroeconomic data, especially persistence in inflation, and ii) the wealth of newly available microeconomic data on price changing behaviour from the...
Persistent link: https://www.econbiz.de/10005132602
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Endogenous Indexing and Monetary Policy Models
Mash, Richard - 2011
Models in which firms use a rule of thumb or partial indexing in price setting are prominent in the recent monetary …
Persistent link: https://www.econbiz.de/10013132417
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Monetary Policy with an Endogenous Capital Stock when Inflation is Persistent
Mash, Richard - Department of Economics, Oxford University - 2002
The paper presents a monetary policy model with an endogenous capital stock when a backward looking element in wage setting causes inflation persistence. We analyse how the endogeneity of the capital stock changes the macroeconomic dynamics with which policy interacts and its implications for...
Persistent link: https://www.econbiz.de/10005051081
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Macroeconometric Equivalence, Microeconomic Dissonance, and the Design of Monetary Policy
Levin, Andrew T. - 2008
Many recent studies in macroeconomics have focused on the estimation of DSGE models using a system of loglinear approximations to the models' nonlinear equilibrium conditions. The term macroeconometric equivalence encapsulates the idea that estimates using aggregate data based on first-order...
Persistent link: https://www.econbiz.de/10012722962