Comment on: Inflation dynamics with search frictions: A structural econometric analysis by Krause, Lopez-Salido and Lubik - Discussion

• 成果类型: Editorial Material
• 署名作者: Casares, Miguel
• 署名单位: Universidad Publica de Navarra
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2008.05.003
• 发表日期: 2008
• 页码: 917-920
• 关键词: Search frictions; wage bloc; new Keynesian model; inflation dynamics

摘要

The implications of search frictions on the inflation dynamics are shown here for the case with wage adjustments typically belonging to the New Keynesian model, not to the Mortensen-Pissarides framework. In that model variant, I identify the role of search frictions by an additional term entering the slope coefficient of the inflation equation. After a numerical exercise, I find results that are in line with those obtained by Krause et al. [2008. Inflation dynamics with search frictions: a structural econometric analysis. journal of Monetary Economics 55, doi:10.1016/j.jmoneco.2008.05.003.]. (C) 2008 Elsevier B.V. All rights reserved.