Most of the papers in the sticky-price literature are based on a log-linearization around the
zero inflation steady state, a simplifying but counterfactual assumption. This paper shows …

While firms claim to be concerned with consumer reactions to price increases, these often do
not cause large reductions in purchases. The model developed here fits this by letting …

The data across time and countries suggest the level and variance of inflation are highly
correlated. This paper examines the effect of trend inflation on the ability of the monetary …

We study the macroeconomic effects of nonzero trend inflation in a simple dynamic
stochastic general equilibrium model under three common time‐dependent pricing …

The foundation of the New Keynesian Phillips curve is a model of price setting with nominal
rigidities which implies that the dynamics of inflation are well explained by the evolution of …

This paper discusses four potential sources of lag dynamics in inflation: non-rational
behavior, staggered contracting, frictions on price adjustment, and shifts in the long-run …

While much evidence suggests tha price rigidity is due to a concern with the reaction of
customers, price increases do not seem to be typically associated with drastic reduction in …

Hyperbolic Discounting and the Phillips Curve - GRAHAM - 2008 - Journal of Money, Credit and
Banking - Wiley Online Library Skip to Article Content Skip to Article Information Wiley Online …

The US New Keynesian Phillips Curve: An Empirical Assessment Page 1 Bank of Canada
Banque du Canada Working Paper 2004-35 / Document de travail 2004-35 The US New …

* Centre Interuniversitaire sur le Risque, les Politiques Économiques et l'Emploi (CIRPÉE),
Université du Québec à Montréal. This article was written while the author was Special …