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Title:When Inflation Persistence Really Matters: Two examples PDF Logo
Authors:Kirsanova, Tatiana
Vines, David
Wren-Lewis, Simon
Issue Date:2007
Series/Report no.:Kieler Arbeitspapiere 1351
Abstract:In this paper we present two examples where the presence of inflation persistence could influence the qualitative nature of monetary policy. In the first case the desirability of a monetary policy regime comes under question when extensive inflation persistence exists. In the second case the direction in which interest rates move following a cost push shock changes when inflation persistence becomes important. In both cases, inflation persistence is central to the process influencing policy.
Subjects:Inflation Persistence
Macroeconomic Stabilisation
JEL:E63
E61
E52
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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