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  5. Modeling inflation dynamics : a critical review of recent research
 
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Modeling inflation dynamics : a critical review of recent research

Author(s)
Rudd, Jeremy  
Whelan, Karl  
Uri
http://hdl.handle.net/10197/201
Date Issued
2007-02
Date Available
2008-06-05T15:51:51Z
Abstract
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 ability of these models to fit the data; (2) the importance of rational forward-looking expectations in price setting; and (3) the appropriate measure of inflationary pressures. We argue that existing models fail to provide a useful empirical description of the inflation process.
Type of Material
Journal Article
Publisher
Blackwell
Journal
Journal of Money, Credit and Banking
Volume
39
Issue
s1
Start Page
155
End Page
170
Copyright (Published Version)
Copyright 2007 The Ohio State University
Subjects

Phillips curve

Sticky prices

Rational expectations...

Classification
E31
Subject – LCSH
Inflation (Finance)--Mathematical models
Rational expectations (Economic theory)
DOI
10.1111/j.1538-4616.2007.00019.x
Web versions
http://dx.doi.org/10.1111/j.1538-4616.2007.00019.x
Language
English
Status of Item
Peer reviewed
ISSN
0022-2879
This item is made available under a Creative Commons License
https://creativecommons.org/licenses/by-nc-sa/1.0/
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whelank_article_pub_011.pdf

Size

103.51 KB

Format

Adobe PDF

Checksum (MD5)

a7caf438ed4a6075152e17d09d297d08

Owning collection
Economics Research Collection

Item descriptive metadata is released under a CC-0 (public domain) license: https://creativecommons.org/public-domain/cc0/.
All other content is subject to copyright.

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