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Browsing by Subject "Rational expectations (Economic theory)"
Now showing items 1-5 of 5
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(American Economic Association, 2006-03)The canonical inflation specification in sticky-price rational expectations models (the new-Keynesian Phillips curve) is often criticized for failing to account for the dependence of inflation on its own lags. In response, ...
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(MIT Press, 2005-11)This paper analyzes the stability over time of the econometric process for euro-area inflation since 1970, focusing in particular on the behavior of the so-called persistence parameter (the sum of the coefficients on the ...
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(Blackwell, 2007-02)In recent years, a broad academic consensus has arisen that favors using rational expectations sticky-price models to capture inflation dynamics. We review the principal conclusions of this literature concerning: (1) the ...
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(Central Bank of Ireland, 2005-11)In recent years, a broad academic consensus has arisen around the use of rational expectations sticky-price models to capture inflation dynamics. These models are seen as providing an empirically reasonable characterization ...
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(Blackwell, 2007-02)Despite their popularity as theoretical tools for illustrating the effects of nominal rigidities, some have questioned whether models based on staggered price contracts with rational expectations can match the persistence ...
Now showing items 1-5 of 5