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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19712| Title: | Monetary policy and core inflation |
| Keywords: | E58 E52 E43 ddc:330 core inflation elasticity of intertemporal substitution heterogeneity nominal rigidity Geldpolitik Inflationsrate Preisspanne Branche Preisrigidität Substitutionselastizität Zeitpräferenz Theorie |
| Issue Date: | 16-Oct-2013 |
| Description: | This paper studies optimal monetary policy responses in an economy featuring sectorial heterogeneity in the frequency of price adjustments. It shows that a central bank facing heterogeneous nominal rigidities is more likely to behave less aggressively than in a fully sticky economy. Hence, the supposedly excessive caution in the conduct of monetary policy shown by central banks could be partly explained by the existence of a relevant sectorial dispersion in the frequency of price adjustments. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19712 |
| Other Identifiers: | http://hdl.handle.net/10419/19712 ppn:558629970 RePEc:zbw:bubdp1:7035 |
| Appears in Collections: | EconStor |
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