Aspects of Stickiness in Understanding Inflation

Kim, Minseong (2016): Aspects of Stickiness in Understanding Inflation.

Abstract

This paper examines the question of how conventional understanding of inflation relates to stickiness. Several results that often go unnoticed are re-examined.

• Item Type: MPRA Paper
• Language: English
• Keywords: theory of price level; theory of inflation; stickiness; New Keynesian; uniqueness; explosive path; stability
• Subjects: E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E12 - Keynes ; Keynesian ; Post-Keynesian; E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E13 - Neoclassical; E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level ; Inflation ; Deflation; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy

References

Cochrane, J. (2011). "Determinacy and Identification with Taylor Rules", Journal of Political Economy 119 (3): 565-615.