Contacts, Credibility and Common Knowledge: Their Influenceon Inflation Convergence
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Beteilige Person: Miller, Marcus (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 1992
Schriftenreihe:IMF Working Papers Working Paper No. 92/26
Links:http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
http://elibrary.imf.org/view/IMF001/01351-9781451981773/01351-9781451981773/01351-9781451981773.xml
Abstract:In this paper three possible reasons are examined for a sluggish inflation response to a hard currency peg. Models of overlapping wage contracts are analyzed and shown to generate little inertia. This contrasts with the effects of government credibility and the speed of private sector learning, which are shown to have a major impact on the speed of inflation adjustment. But even if individual agents believe the government will not devalue, it is shown that inflation inertia can still arise if these expectations are not common knowledge
Umfang:1 Online-Ressource (24 p)
ISBN:1451981775
9781451981773