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Title:The price puzzle revisited: can the cost channel explain a rise in inflation after a monetary policy shock? PDF Logo
Authors:Henzel, Steffen
Hülsewig, Oliver
Mayer, Eric
Wollmershäuser, Timo
Issue Date: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
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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