Arbeitspapier
Pitfalls in the Modelling of Forward-Looking Price Setting and Inverstment Behavior
We discuss some difficulties in a dynamic New-Keynesian model with staggered price setting à la Calvo and a convex capital adjustment cost at the firm level, as considered by Woodford (2003, Ch. 5). It is shown that the implied simultaneous price setting and investment decision has not been analyzed properly. Our work fills that gap by proposing a tractable solution to the key problem of describing the inflation dynamics associated with that structure. We use our framework to assess to what extent capital accumulation matters for inflation and output dynamics.
- ISBN
-
82-7553-224-8
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 2004/1
- Klassifikation
-
Wirtschaft
Investment; Capital; Intangible Capital; Capacity
Price Level; Inflation; Deflation
- Thema
-
sticky prices
investments
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Sveen, Tommy
Weinke, Lutz
- Ereignis
-
Veröffentlichung
- (wer)
-
Norges Bank
- (wo)
-
Oslo
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Sveen, Tommy
- Weinke, Lutz
- Norges Bank
Entstanden
- 2004
Ähnliche Objekte (12)
Simulating Forward-Looking Models
The Market Microstructure Approach to Foreign Exchange: Looking Back and Looking Forward
Inflation Targeting Rules: History-Dependent or Forwarding-Looking?
Monetary Regime and the Co-Ordination of Wage Setting
Documentation of the Method Used by Norges Bank for Estimating Implied Forward Interest Rates
Geldschein, 500 Kroner, 1901
Long-Term Market Outlook
Geldschein, 50 Kroner, 1940
Background Information, Annual Address 2012
Geldschein, 1 Krone, 1917
Geldschein, 5 Kroner, 1945
Background Information, Annual Address 2010
Simulating Forward-Looking Models
The Market Microstructure Approach to Foreign Exchange: Looking Back and Looking Forward
Inflation Targeting Rules: History-Dependent or Forwarding-Looking?
Monetary Regime and the Co-Ordination of Wage Setting
Documentation of the Method Used by Norges Bank for Estimating Implied Forward Interest Rates
Geldschein, 500 Kroner, 1901
Long-Term Market Outlook
Geldschein, 50 Kroner, 1940
Background Information, Annual Address 2012
Geldschein, 1 Krone, 1917
Geldschein, 5 Kroner, 1945
Background Information, Annual Address 2010
Simulating Forward-Looking Models
The Market Microstructure Approach to Foreign Exchange: Looking Back and Looking Forward
Inflation Targeting Rules: History-Dependent or Forwarding-Looking?
Monetary Regime and the Co-Ordination of Wage Setting
Documentation of the Method Used by Norges Bank for Estimating Implied Forward Interest Rates
Geldschein, 500 Kroner, 1901
Long-Term Market Outlook
Geldschein, 50 Kroner, 1940
Background Information, Annual Address 2012
Geldschein, 1 Krone, 1917
Geldschein, 5 Kroner, 1945