Understanding Inflation Dynamics.Where Do We Stand?

Review of Business and Economic Literature (ReBEL)

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Jaar
2009
Volume
54
Nummer
2
Pagina
209
Taal
Engels
Rechtscollege
Referentie
M. DOSSCHE, “Understanding Inflation Dynamics.Where Do We Stand?”, RBE 2009, nr. 2, 209-227

Samenvatting

I summarize recent advances in the literature on inflation dynamics. This has been a very productive area of research due to the development of the so-called New Keynesian model and the availability of new macroeconomic and microeconomic evidence. Nevertheless, there still remain a number of puzzles. In particular, the importance of temporary price markdowns for inflation dynamics and the characteristics of the information set price setters use for their price adjustment decision, currently constitute unresolved issues.