Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17863
Authors: 
Kirsanova, Tatiana
Vines, David
Wren-Lewis, Simon
Year of Publication: 
2007
Series/Report no.: 
Kiel Working Paper 1351
Abstract: 
In this paper we present two examples where the presence of inflation persistence could influence the qualitative nature of monetary policy. In the first case the desirability of a monetary policy regime comes under question when extensive inflation persistence exists. In the second case the direction in which interest rates move following a cost push shock changes when inflation persistence becomes important. In both cases, inflation persistence is central to the process influencing policy.
Subjects: 
Inflation Persistence
Macroeconomic Stabilisation
JEL: 
E63
E61
E52
Document Type: 
Working Paper

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