Sluggish inflation and optimizing models of the business cycle

被引:38
作者
Nelson, E [1 ]
机构
[1] Carnegie Mellon Univ, Grad Sch Ind Adm, Pittsburgh, PA 15213 USA
关键词
sticky-price models; business cycle models; inflation;
D O I
10.1016/S0304-3932(98)00024-5
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
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.
引用
收藏
页码:303 / 322
页数:20
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