Browsing Norges Banks vitenarkiv by Author "Driscoll, John C."

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    • A Note on Inflation Persistence 

      Holden, Steinar; Driscoll, John C. (Working Papers;14/2002, Working paper, 2002)
      Macroeconomists have for some time been aware that the New Keynesian Phillips curve, though highly popular in the literature, cannot explain the persistence observed in actual inflation. We argue that one of the more ...

    • Coordination, Fair Treatment and Inflation Persistence 

      Driscoll, John C.; Holden, Steinar (Working Papers;15/2002, Working paper, 2002)
      Most wage-contracting models with rational expectations fail to replicate the persistence in inflation observed in the data. We argue that coordination problems and multiple equilibria are the keys to explaining inflation ...

    • Cross-Boarder Diversification in Bank Asset Portfolios 

      Buch, Claudia M.; Driscoll, John C.; Østergaard, Charlotte (Working Papers;11/2004, Working paper, 2004)
      Taking the mean-variance portfolio model as a benchmark, we compute the optimally diversified portfolio for banks located in France, Germany, the U.K., and the U.S. under different assumptions about currency hedging. We ...