کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
986463 1480843 2006 25 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Specific factors meet intermediate inputs: Implications for the persistence problem
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Specific factors meet intermediate inputs: Implications for the persistence problem
چکیده انگلیسی

A central challenge to monetary business cycle theory is to find a solution to the problem of persistence in the real effect of monetary shocks. Previous research has identified separately specific factors and intermediate inputs as two promising mechanisms for generating the persistence in a staggered price-setting framework. By examining a staggered price model that features both specific factors and intermediate inputs, this paper finds an offsetting interaction between the two individually promising mechanisms, which leads to a cancellation of much of the impact of each in propagating monetary shocks. This finding posits a challenge to the search of robust monetary transmission mechanism for solving the persistence problem.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Review of Economic Dynamics - Volume 9, Issue 3, July 2006, Pages 483–507
نویسندگان
,