Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/55645 
Year of Publication: 
2009
Series/Report no.: 
Working Papers No. 09-14
Publisher: 
Federal Reserve Bank of Boston, Boston, MA
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

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.