A Theoretical Model of Industrial Economy Inflationary Dynamics

Thomas Fullerton () and Eiichi Araki
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Eiichi Araki: St Andrews University at Osaka

Macroeconomics from EconWPA

Abstract: A standard monetary model of inflation is augmented to include import, labor, energy, and intermediate good cost pressures. Expansion of the original monetary framework is achieved using a cost function dual of the production function. Implications for parameter magnitudes and other empirical issues are discussed with respect to potential estimation procedures.

Keywords: Inflation; Price Dynamics (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Date: 2004-08-10
Note: Type of Document - doc; pages: 10
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpma:0408007

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