Paper #910

Título:

New evidence on inflation persistence and price stickiness in the Euro area: Implications for macro modelling

Autores:

Ignazio Angelloni, Luc Aucremanne, Michael Ehrmann, Jordi Galí, Andrew Levin y Frank Smets

Fecha:

Septiembre 2005

Resumen:

This paper evaluates new evidence on price setting practices and inflation persistence in the euro area with respect to its implications for macro modelling. It argues that several of the most commonly used assumptions in micro-founded macro models are seriously challenged by the new findings.

Palabras clave:

Price setting practices, macro modellling

Códigos JEL:

E31, E52

Área de investigación:

Macroeconomía y Economía Internacional

Publicado en:

Journal of the European Economic Association, vol. 4 (2-3), 562-574, April-May 2006

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