The imperfect-common-knowledge Phillips curve: Calvo versus Rotemberg

Radek Šauer

No 50/2016, Discussion Papers from Deutsche Bundesbank

Abstract: I derive the imperfect-common-knowledge Phillips curve under the assumption of Rotemberg pricing. The curve differs from the Calvo version in one important aspect. Expectations of future relative prices impact in ation.

Keywords: Phillips Curve; Rotemberg; Imperfect Knowledge (search for similar items in EconPapers)
JEL-codes: D83 E31 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-knm and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bubdps:502016

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