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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP4359 |
DP4359 Reuters News Reports versus Official Interventions: The Inaccuracy of Reuters Reports for Swiss Interventions | |
Andreas Fischer | |
发表日期 | 2004-04-23 |
出版年 | 2004 |
语种 | 英语 |
摘要 | The Calvo contract Phillips Curve is widely indexed for general inflation, using either core inflation or other backward-looking formulae. Such a Phillips Curve implies a high and persistent degree of nominal rigidity. It is argued here that optimal indexation would by contrast use the rational expectation of inflation. If this scheme is implemented, the relationship defaults to a familiar ?surprise? Phillips Curve, removing all except temporary monetary rigidity. |
主题 | International Macroeconomics |
关键词 | Price stickiness Indexing Rational expectations Phillips curve New-keynesian synthesis |
URL | https://cepr.org/publications/dp4359 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533311 |
推荐引用方式 GB/T 7714 | Andreas Fischer. DP4359 Reuters News Reports versus Official Interventions: The Inaccuracy of Reuters Reports for Swiss Interventions. 2004. |
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