Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62929
Authors: 
Tsoukis, Chris
Kapetanios, George
Pearlman, Joseph
Year of Publication: 
2007
Series/Report no.: 
Working Paper, Department of Economics, Queen Mary, University of London 619
Abstract: 
We review the main New Keynesian inflation equations that have arisen as a result of aggregation from individual firms' price rigidities. We find that, on the whole, they cannot account for inflation persistence, a key feature of the empirical dynamics of inflation, and with important policy implications. The only exception seems to be when price stickiness is combined with wage rigidity and staggering.
Subjects: 
Inflation rigidity
Price stickiness
Phillips curve
JEL: 
E31
E32
Document Type: 
Working Paper

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