Add to ORKGFollowing an earlier paper, I investigate an economy where nominal interest rates are rigid, but aggregate prices are not. Though the title exaggerates, interest rates rigidity does account for an uncanny number of stylized facts about inflation. This paper shows that previously shown results are robust to changes in the specification of interest rate rigidity. Results investigated include: (1) the procyclicality of inflation, (2) inflation control through interest rate manipulation,(3) the persistence of inflation since World War II, (4) the Great Moderation under inflation targeting, (5) real rate volatility under a gold standard, (6) the price puzzle
Many empirical studies have found that interest rate increases have a positive effect on the price l...
This paper adopts the Impulse-Response methodology to under- stand inflation persistence. It has of...
In section two of the thesis the objective is to show that the degree of inflation persistence -- th...
Following an earlier paper, I investigate an economy where nominal interest rates are rigid, but agg...
The literature on nominal interest rates rigidity does not fully address its macroeconomic implicati...
I create a model where private banks face adjustment costs in nominal interest rates. The model's in...
A popular model in the literature postulates an interest rate rule, a NAIRU price equation, and an a...
Monetary models with nominal rigidities are known to have difficulties in matching some important fe...
Empirical evidence suggests that goods are highly heterogeneous with respect to the degree of price ...
This paper aims to show why Irving Fisher's own data on interest rates and inflation in New York, Lo...
Real interest and inflation rates have been very low in many industrialized countries since the Grea...
This paper analyses two reasons why inflation may interfere with price adjustment so as to create in...
The closed and open economy literatures work on estimating real rigidities, but in parallel. We brin...
In section two of the thesis the objective is to show that the degree of inflation persistence -- th...
The bulk of literature on real rigidity attempts to identify sources of real rigidity in market imp...
Many empirical studies have found that interest rate increases have a positive effect on the price l...
This paper adopts the Impulse-Response methodology to under- stand inflation persistence. It has of...
In section two of the thesis the objective is to show that the degree of inflation persistence -- th...
Following an earlier paper, I investigate an economy where nominal interest rates are rigid, but agg...
The literature on nominal interest rates rigidity does not fully address its macroeconomic implicati...
I create a model where private banks face adjustment costs in nominal interest rates. The model's in...
A popular model in the literature postulates an interest rate rule, a NAIRU price equation, and an a...
Monetary models with nominal rigidities are known to have difficulties in matching some important fe...
Empirical evidence suggests that goods are highly heterogeneous with respect to the degree of price ...
This paper aims to show why Irving Fisher's own data on interest rates and inflation in New York, Lo...
Real interest and inflation rates have been very low in many industrialized countries since the Grea...
This paper analyses two reasons why inflation may interfere with price adjustment so as to create in...
The closed and open economy literatures work on estimating real rigidities, but in parallel. We brin...
In section two of the thesis the objective is to show that the degree of inflation persistence -- th...
The bulk of literature on real rigidity attempts to identify sources of real rigidity in market imp...
Many empirical studies have found that interest rate increases have a positive effect on the price l...
This paper adopts the Impulse-Response methodology to under- stand inflation persistence. It has of...
In section two of the thesis the objective is to show that the degree of inflation persistence -- th...