Nominal rigidities and the dynamic effects of a shock to monetary policy /

We present a model embodying moderate amounts of nominal rigidities which accounts for the observed inertia in inflation and persistence in output. The key features of our model are those that prevent a sharp rise in marginal costs after an expansionary shock to monetary policy. Of these features, t...

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Bibliographic Details
Main Author: Christiano, Lawrence J., 1952-
Other Authors: Eichenbaum, Martin, 1954-, Evans, Charles, 1958-
Format: Book
Language:English
Published: Buenos Aires : Instituto y Universidad Torcuato Di Tella, 2001
Series:Serie seminarios ; no. 16 / 2001
Subjects: