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