Browsing ECO Articles by Subject "Monetary models"

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Browsing ECO Articles by Subject "Monetary models"

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    Title: An evolutionary theory of inflation inertia  Author(s): ANAGNOSTOPOULOS, Alexis; LICANDRO, Omar; BOVE, Italo; SCHLAG, Karl H. Date: 2007 Type of Publication: Article Abstract: We provide a simple theory of inflation inertia in a staggered price setting framework à la Calvo (1983). Contrary to Calvo's formulation, the frequency of price changes is allowed to vary according to an evolutionary ...