Optimal monetary policy in an economy with inflation persistence

By Jón Steinsson. 2003

299 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/a96e4f5b4945e5cbec2382c264f0d817fb011ad7

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In Economics and Econometrics

Citations in the corpus

Inflation Persistence and Optimal Monetary Policy in the Euro Area (2002, background): “Table 3 summarizes the comparisons, where the variance of the shock ε has been normalized to one.”
Changes in the Federal Reserve's Inflation Target: Causes and Consequences (2007, background): “Hence, as in Smets andWouters (2003), Steinsson (2003), and Ireland (2004a), random shocks to θt translate into shocks to the intermediategoods-producing firms’ desired markups of price over marginal cost; in equilibrium, they act like cost-push shocks of the kind introduced into the New Keynesian…”
A New Keynesian Perspective on the Great Recession (2011, background): “Indeed, it would be interesting, as a next step, to investigate how the implications of the small-scale model used here would compare to those generated by more elaborate models, especially those that build on the New Keynesian framework, either following Bernanke, Gertler, and Gilchrist (1999) and ”
Monetary Policy for Inattentive Economies (2005, unknown): “Markup shocks are becoming a standard feature of models used to analyze monetary policy (e.g., Woodford, 2003b; Clarida, Gali and Gertler, 2002; Steinsson, 2003).”
Optimal Inflation Targeting Rules (2003, unknown): “Possible sources of disturbances of this sort are discussed in Giannoni (2000), Steinsson (2003), and Woodford (2003, chap.”
The Yield Curve and Macroeconomic Dynamics (2008, unknown): “Following Steinsson (2003), we also introduce a stochastic income tax, which in equilibrium will lead to a trade-o¤ between in ation and the output gap.”
Optimal Monetary Policy When Agents are Learning (2010, unknown): “Moreover, note that (41) and (42) lack any intrinsic source of inertia: if the cost-push shock is iid, so are inflation and output gap.”
Euro Area Inflation Persistence in an Estimated Nonlinear DSGE Model (2008, background): “� ;j = 1;2;:::;N ( 31 ) � Update: we take into account that we have drawn from p(xt+1jyot;�) and not from”