| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966995 | Journal of Monetary Economics | 2011 | 14 Pages |
Abstract
⺠I develop monetary models where the identity of the aggregate shock is unknown. ⺠These models deliver the price puzzle and humped shaped impulse responses. ⺠Destabilizing price flexibility is found. ⺠Optimal policy is affected as the central bank can affect agents' beliefs.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Leon Berkelmans,