Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55645
Authors: 
Fuhrer, Jeffrey C.
Year of Publication: 
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

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