Monetary policy and core inflation /
Lenza, Michele 1970-
Monetary policy and core inflation / Michele Lenza. - Frankfurt am Main : Deutsche Bundesbank, 2007 - 44 p. - Discussion paper. Series 1: economic studies ; no. 35/2007 . - Discussion paper (Deutsche Bundesbank). Series 1: economic studies no. 35/2007 .
Bibliografía: p. 21-22.
This paper studies optimal monetary policy responses in an economy featur-ing sectorial heterogeneity in the frequency of price adjustments. It shows that acentral bank facing heterogeneous nominal rigidities is more likely to behave less
aggressively than in a fully sticky economy. Hence, the supposedly excessive cau-tion in the conduct of monetary policy shown by central banks could be partlyexplained by the existence of a relevant sectorial dispersion in the frequency of
price adjustments.
9783865583710
INFLACION SUBYACENTE
POLITICA MONETARIA
332.41
Monetary policy and core inflation / Michele Lenza. - Frankfurt am Main : Deutsche Bundesbank, 2007 - 44 p. - Discussion paper. Series 1: economic studies ; no. 35/2007 . - Discussion paper (Deutsche Bundesbank). Series 1: economic studies no. 35/2007 .
Bibliografía: p. 21-22.
This paper studies optimal monetary policy responses in an economy featur-ing sectorial heterogeneity in the frequency of price adjustments. It shows that acentral bank facing heterogeneous nominal rigidities is more likely to behave less
aggressively than in a fully sticky economy. Hence, the supposedly excessive cau-tion in the conduct of monetary policy shown by central banks could be partlyexplained by the existence of a relevant sectorial dispersion in the frequency of
price adjustments.
9783865583710
INFLACION SUBYACENTE
POLITICA MONETARIA
332.41