The cost-channel of monetary transmission under positive trend inflation

Qureshi Irfan A.; Ahmad Ghufran

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The cost-channel of monetary transmission under positive trend inflation

机译：积极趋势通胀下货币传播成本渠道

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摘要

We study the dynamics of the cost-channel of monetary transmission mechanism using a New Keynesian model with nonzero steady state inflation. We show that the effects of the cost-channel depend almost entirely on the level of trend inflation in the economy. These results are demonstrated analytically and numerically by focusing on the impact of monetary policy shocks on the response of inflation and output. (C) 2021 Elsevier B.V. All rights reserved.

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来源
《Economics letters》 |2021年第4期|109802.1-109802.6|共6页
作者
Qureshi Irfan A.; Ahmad Ghufran;
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作者单位

Asian Dev Bank ADB Manila Philippines;

Natl Univ Sci & Technol NUST NUST Business Sch Int Business & Mkt Islamabad Pakistan;

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原文格式 PDF
正文语种 eng
中图分类
关键词
Cost-channel; Trend inflation;

机译：成本渠道;趋势通胀;

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The cost-channel of monetary transmission under positive trend inflation

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