Modeling inflation dynamics : a critical review of recent research

Files in This Item:
File Description SizeFormat 
whelank_article_pub_011.pdf103.51 kBAdobe PDFDownload
Title: Modeling inflation dynamics : a critical review of recent research
Authors: Rudd, Jeremy
Whelan, Karl
Permanent link: http://hdl.handle.net/10197/201
Date: Feb-2007
Online since: 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
Keywords: Phillips curveSticky pricesRational expectations
Subject LCSH: Inflation (Finance)--Mathematical models
Rational expectations (Economic theory)
DOI: 10.1111/j.1538-4616.2007.00019.x
Other versions: http://dx.doi.org/10.1111/j.1538-4616.2007.00019.x
Language: en
Status of Item: Peer reviewed
Appears in Collections:Economics Research Collection

Show full item record

SCOPUSTM   
Citations 5

101
Last Week
1
Last month
checked on Feb 19, 2019

Page view(s) 20

120
checked on May 25, 2018

Download(s) 5

1,769
checked on May 25, 2018

Google ScholarTM

Check

Altmetric


This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.