Browsing Norges Banks publikasjonsserier / Norges Bank publication series by Subject "Fuhrer and Moore model"
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A Note on Inflation Persistence
(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 ...