Partial indexation, trend inflation, and the hybrid Phillips curve

被引：12
|
作者：
Sahuc, JG
机构：
[1] Banque France, Ctr Rech, F-75049 Paris, France
[2] Univ Evry Val dEssonne, EPEE, F-91025 Evry, France
来源：
ECONOMICS LETTERS | 2006年 / 90卷 / 01期
关键词：
Phillips curve; inflation inertia; trend inflation; degree of indexation;
D O I：
10.1016/j.econlet.2005.07.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This note proposes a full description of the Calvo price-setting model based on partial prices indexation and studies the interaction between partial indexation and trend inflation. We show that using a hybrid version of the Phillips curve partly decreases the risks of overestimate due to the omission of trend inflation. (c) 2005 Elsevier B.V. All rights reserved.
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页码：42 / 50
页数：9
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