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http://hdl.handle.net/10419/65744
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| Title: | | Can the facts of UK inflation persistence be explainded by nominal rigidity  |
| 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
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