Sticky prices vs. sticky information

dc.contributor.author	Bredemeier, Christian
dc.contributor.author	Goecke, Henry
dc.date.accessioned	2012-06-12T08:35:33Z
dc.date.available	2012-06-12T08:35:33Z
dc.date.issued	2012-06-12
dc.description.abstract	This paper compares sticky-price and sticky-information Phillips curves empirically considering inflation dynamics in eleven countries (the G7 and Scandinavia). We evaluate the models` abilities to match empirical second moments of inflation. Although overall model performance is similar, there is a strong systematic pattern in model performance by moment type. Sticky prices match unconditional moments of inflation dynamics clearly better while sticky information is considerably more successful in matching co-movements of inflation with demand.	en
dc.identifier.uri	http://hdl.handle.net/2003/29472
dc.identifier.uri	http://dx.doi.org/10.17877/DE290R-3369
dc.language.iso	en	de
dc.relation.ispartofseries	Discussion Paper / SFB 823;22/2012
dc.subject	Phillips curve	en
dc.subject	sticky information	en
dc.subject	sticky prices	en
dc.subject.ddc	310
dc.subject.ddc	330
dc.subject.ddc	620
dc.title	Sticky prices vs. sticky information	en
dc.title.alternative	A cross-country study of inflation dynamics	en
dc.type	Text	de
dc.type.publicationtype	workingPaper	de
dcterms.accessRights	open access

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