Threshold Effects in Sticky Information Philips Curve: Evidence from Iran

Maryam Hematy and Mehdi Pedram
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Maryam Hematy: Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran
Mehdi Pedram: Alzahra University

Journal of Money and Economy, 2015, vol. 10, issue 1, 1-22

Abstract: During the last decade, several studies have argued that sticky information model proposed by Mankiw and Reis (2002), in which firms update their information occasionally rather than instantaneously, explains some stylized facts about the inflation dynamics. Sticky information pricing model successfully captures the sluggish movement of aggregate prices in response

Keywords: Degree of information stickiness; Sticky information Philips Curve; Out of sample forecasting; Threshold model; Bootstrap (search for similar items in EconPapers)
Date: 2015
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