Supply side inflation persistence |
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| Authors: | Andrea Civelli Nicola Zaniboni |
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| Institution: | 1. University of Arkansas, Business Building 402, Fayetteville, AR 72701, United States;2. Transparent Value, LLC, New York, NY 10017, United States |
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| Abstract: | We explore the role of the cost channel in accounting for inflation persistence in the New Keynesian model with Calvo pricing. Hump-shaped responses of inflation to monetary shocks are obtained under purely nominal rigidities. |
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| Keywords: | E31 E44 E51 |
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