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Trend Inflation, Indexation, and Inflation Persistence in the New Keynesian Phillips Curve
, 2008Purely forward-looking versions of the New Keynesian Phillips curve (NKPC) generate too little inflation persistence. Some authors add ad hoc backwardlooking terms to address this shortcoming. We hypothesize that inflation persistence results mainly from
Timothy Cogley, Argia M. Sbordone
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Ambiguity Aversion and Heterogeneity in Households’ Beliefs
American Economic Journal: MacroeconomicsUK households that wish for lower inflation and lower nominal interest rates have higher expected inflation. We interpret the evidence through the lens of a New Keynesian model where ambiguity-averse households differ in wealth, skill, labor market ...
Claudio Michelacci, Luigi Paciello
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Delayed Overshooting: The Case for Information Rigidities
American Economic Journal: MacroeconomicsWe provide evidence that the delayed overshooting puzzle reflects a slow adjustment of exchange rate expectations to monetary policy shocks rather than a failure of uncovered interest parity.
Gernot J. Müller +2 more
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Efficacy of Monetary Policy Transmission During the Flexible Inflation Targeting Regime in India
South Asian Journal of Macroeconomics and Public FinanceThis article builds a Structural Vector Autoregressive model and employs non-recursive identification restrictions to examine the effectiveness of the Monetary policy transmission mechanism in India during the Flexible Inflation Targeting regime (2016 ...
Samahita Phul
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Term Premia and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset
, 2011This paper provides cross-country empirical evidence on term premia. I construct a panel of zero-coupon nominal government bond yields spanning ten industrialized countries and nearly two decades.
Jonathan H. Wright
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The Minor Planet Electronic Circulars contain information on unusual minor planets, routine data on comets and natural satellites, and occasional editorial announcements. They are published on behalf of Division F of the International Astronomical Union by the Minor Planet Center, Smithsonian Astrophysical Observatory, Cambridge, MA 02138, U.S.A.
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Cambio de color de pie tras COVID-19: (Pages. e51-e52)
, 2021 Antonio Luis Aguilar Shea +3 more
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