Can the facts of UK inflation persistence be explained by nominal rigidity?
| Autor: | Prakriti Sofat, Patrick Minford, Eric Nowell, David Meenagh, Naveen Srinivasan |
|---|---|
| Rok vydání: | 2009 |
| Předmět: |
Inflation
Persistence (psychology) Economics and Econometrics Inflation Persistence Monetary Regime Shifts New Classical New Keynesian Nominal Rigidity media_common.quotation_subject Keynesian economics Nominal rigidity jel:E31 jel:E37 Degree (music) inflation persistence nominal rigidity monetary regime shifts Economics New Keynesian economics media_common |
| Zdroj: | Economic Modelling. 26:978-992 |
| ISSN: | 0264-9993 |
| DOI: | 10.1016/j.econmod.2009.03.004 |
| Popis: | It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies, findings of varying persistence due to changing monetary regimes, we find that models with little nominal rigidity are best equipped to explain it. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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