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Title:Can the facts of UK inflation persistence be explainded by nominal rigidity PDF Logo
Authors:Meenagh, David
Minford, Patrick
Nowell, Eric
Sofat, Prakriti
Srinivasan, Naveen
Issue Date:2008
Series/Report no.:Cardiff Economics Working Papers E2008/7
Abstract:It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies findings of varying persistence due to changing monetary regimes, we find that models with little nominal rigidity are best equipped to explain it.
Subjects:inflation persistence
New Keynesian
New Classical
nominal rigidity
monetary regime shifts
JEL:E31
E37
Document Type:Working Paper
Appears in Collections:Cardiff Economics Working Papers, Cardiff Business School, Cardiff University

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