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| Tekijä: | Adolfson, M. (et al.) |
| Otsikko: | The role of sticky prices in an open economy DSGE model: a Bayesian investigation |
| Lehti: | Journal of the European Economic Association
2005 : APR-MAY, VOL. 3:2-3, p. 444-457 |
| Asiasana: | inflation models prices |
| Kieli: | eng |
| Tiivistelmä: | In this paper a Dynamic Stochastic General Equilibrium (DSGE) models for an open economy are used to explore the role of sticky prices in explaining the joint behaviour of inflation and a fairly large set of macroeconomic variables. It is shown that price stickiness is an important feature for firms active in the domestic, export and import sectors, even though the model embodies variable capital utilisation, a working-capital channel and a time-varying inflation target. |
SCIMA