New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modelling

Ignazio Angelloni, Luc Aucremanne, Michael Ehrmann (), Jordi Gali (), Andrew Theo Levin () and Frank Rafael Smets

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: This paper evaluates new evidence on price setting practices and inflation persistence in the euro area with respect to its implications for macro modelling. It argues that several of the most commonly used assumptions in micro-founded macro models are seriously challenged by the new findings.

Keywords: Price setting practices; macro modellling (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac and nep-mon
Date: 2005-09
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Journal Article: New Evidence on Inflation Persistence and Price Stickiness in the Euro Area: Implications for Macro Modeling (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:upf:upfgen:910

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