Arbeitspapier
Monetary policy and core inflation
This paper studies optimal monetary policy responses in an economy featuring sectorial heterogeneity in the frequency of price adjustments. It shows that a central bank facing heterogeneous nominal rigidities is more likely to behave less aggressively than in a fully sticky economy. Hence, the supposedly excessive caution in the conduct of monetary policy shown by central banks could be partly explained by the existence of a relevant sectorial dispersion in the frequency of price adjustments.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper Series 1 ; No. 2007,35
- Klassifikation
-
Wirtschaft
Central Banks and Their Policies
Monetary Policy
Interest Rates: Determination, Term Structure, and Effects
- Thema
-
core inflation
elasticity of intertemporal substitution
heterogeneity
nominal rigidity
Geldpolitik
Inflationsrate
Preisspanne
Branche
Preisrigidität
Substitutionselastizität
Zeitpräferenz
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lenza, Michele
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 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
- Lenza, Michele
- Deutsche Bundesbank
Entstanden
- 2007
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