Nominal Exchange Rate Anchoring Under Inflation Inertia /
This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable goods sector of a small open economy. Unlike current theories of sticky prices, transitions to a lower steady state inflation rate take time even if they are fully credible, and they...
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| Andre forfattere: | , |
| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
2002.
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| Serier: | IMF Working Papers; Working Paper ;
No. 2002/030 |
| Online adgang: | Full text available on IMF |