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Supply side inflation persistence

Andrea Civelli () and Nicola Zaniboni

Economics Letters, 2014, vol. 125, issue 2, 191-194

Abstract: We explore the role of the cost channel in accounting for inflation persistence in the New Keynesian model with Calvo pricing. Hump-shaped responses of inflation to monetary shocks are obtained under purely nominal rigidities.

Keywords: Inflation persistence; Cost channel; Hump-shaped responses (search for similar items in EconPapers)
JEL-codes: E31 E44 E51 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1016/j.econlet.2014.08.038

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