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...
| Príomhchruthaitheoir: | Calvo, Guillermo |
|---|---|
| Rannpháirtithe: | Celasun, Oya, Kumhof, Michael |
| Formáid: | IRIS |
| Teanga: | English |
| Foilsithe / Cruthaithe: |
Washington, D.C. :
International Monetary Fund,
2002.
|
| Sraith: | IMF Working Papers; Working Paper ;
No. 2002/030 |
| Rochtain ar líne: | Full text available on IMF |
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