An evolutionary theory of inflation inertia
成果类型：
Article; Proceedings Paper
署名作者：
Anagnostopoulos, Alexis; Licandro, Omar; Bove, Italo; Schlag, Karl
署名单位：
State University of New York (SUNY) System; Stony Brook University; Universidad de la Republica, Uruguay; Universite de Bretagne Occidentale
刊物名称：
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
ISSN/ISSBN：
1542-4766
DOI：
10.1162/jeea.2007.5.2-3.433
发表日期：
2007
页码：
433-443
关键词：
摘要：
We provide a simple theory of inflation inertia in a staggered price setting framework la Calvo (1983). Contrary to Calvo's formulation, the frequency of price changes is allowed to vary according to an evolutionary criterion. Inertia is the direct result of gradual adjustment in this frequency following a permanent change in the rate of money growth.
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