Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26084
Authors: 
Henzel, Steffen
Hülsewig, Oliver
Mayer, Eric
Wollmershäuser, Timo
Year of Publication: 
2007
Series/Report no.: 
CESifo working paper 2039
Abstract: 
This paper explores whether the cost channel solves the price puzzle. We set-up a New Keynesian DSGE model and estimate it for the euro area by adopting a minimum distance approach. Our findings suggest that - under certain parameter restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary contraction.
JEL: 
C51
E31
E32
Document Type: 
Working Paper

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