The passthrough of large-cost shocks in an inflationary economy

This paper surveys and modestly extends the theory of menu-cost models of the behavior of the aggregate price level after large-cost shocks. It does so in the context of an economy with a high underlying rate of inflation. It concentrates on the effect of large permanent and unexpected increases...

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Autores principales: Álvarez, Fernando, Neumeyer, Pablo Andrés
Formato: Artículo
Lenguaje:English
Publicado: Banco Central de Chile 2020
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Acceso en línea:https://hdl.handle.net/20.500.12580/4879
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