@techreport{Trabandt2003Sticky,
abstract = {Mankiw and Reis (2002) have proposed sticky information as an alternative
to Calvo sticky prices in order to model the conventional view that i)
inflation reacts with delay and gradually to a monetary policy shock, ii) announced
and credible disinflations are contractionary and iii) inflation accelerates
with vigorous economic activity. We develop a fully-fledged DSGE
model with sticky information and compare it to Calvo sticky prices, allowing
also for dynamic inflation indexation as in Christiano, Eichenbaum and
Evans (2001). We find that both models do equally well in delivering the
conventional view.
\textasciidieresis{}},
author = {Mathias Trabandt},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E3; E0; 330; sticky information; sticky prices; inflation indexation; DSGE; Inflationsbek\"{a}mpfung; Preis; Anpassung; Informationsverbreitung; Preisrigidit\"{a}t; Dynamisches Gleichgewicht; Stochastischer Prozess; Theorie},
language = {eng},
note = {urn:nbn:de:kobv:11-10050542},
number = {2003,41},
title = {Sticky Information vs. Sticky Prices : A Horse Race in a DSGE Framework},
type = {Discussion papers of interdisciplinary research project 373},
url = {http://hdl.handle.net/10419/22255},
year = {2003}
}
