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http://hdl.handle.net/10419/55645
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| Title: | | Inflation persistence  |
| Authors: | | Fuhrer, Jeffrey C. |
| Issue Date: | | 2009 |
| Series/Report no.: | | Working paper series // Federal Reserve Bank of Boston 09-14 |
| Abstract: | | This paper examines the concept of inflation persistence in macroeconomic theory. It begins with a definition of persistence, emphasizing the difference between reduced]form and structural persistence. It then examines a number of empirical measures of reduced]form persistence, considering the possibility that persistence may have changed over time. The paper then examines the theoretical sources of persistence, distinguishing gintrinsich from ginheritedh persistence, and deriving a number of analytical results on persistence. It summarizes the implications for persistence from the literatures on gsticky]informationh models, learning models, and so]called gtrend inflation models,h providing some new results throughout. |
| JEL: | | G1 G3 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Paper Series, Federal Reserve Bank of Boston
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