Can the facts of UK inflation persistence be explained by nominal rigidity?

David Meenagh, A. Patrick Minford, Eric Nowell, Prakriti Sofat and Naveen Srinivasan

Economic Modelling, 2009, vol. 26, issue 5, 978-992

Abstract: It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies' findings of varying persistence due to changing monetary regimes, we find that models with little nominal rigidity are best equipped to explain it.

Keywords: Inflation; persistence; New; Keynesian; New; Classical; Nominal; rigidity; Monetary; regime; shifts (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (19)

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Related works:
Working Paper: Can the Facts of UK Inflation Persistence be Explained by Nominal Rigidity? (2010)
Working Paper: Can the Facts of UK Inflation Persistence be Explained by Nominal Rigidity? (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:26:y:2009:i:5:p:978-992

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