Sluggish inflation and optimizing models of the business cycle

• 成果类型: Article
• 署名作者: Nelson, E
• 署名单位: Carnegie Mellon University
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/S0304-3932(98)00024-5
• 发表日期: 1998
• 页码: 303-322
• 关键词: sticky-price models; business cycle models; inflation

摘要

Many researchers have added sticky prices to quantitative business cycle models. I simulate several of these models in order to evaluate their success at reproducing two features of US data: the lagged reaction of inflation to monetary growth, and the persistence of inflation. (C) 1998 Elsevier Science B.V. All rights reserved.