TY  - BOOK
AU  - Lenza,Michele
TI  - Monetary policy and core inflation
T2  - Discussion paper. Series 1: economic studies
SN  - 9783865583710
U1  - 332.41 21
PY  - 2007///
CY  - Frankfurt am Main
PB  - Deutsche Bundesbank
KW  - INFLACION SUBYACENTE
KW  - POLITICA MONETARIA
N1  - Bibliografía: p. 21-22
N2  - 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
ER  -