Abstract

http://ssrn.com/abstract=1143197
 
 

References (66)



 
 

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Can the Facts of UK Inflation Persistence Be Explained by Nominal Rigidity?


David Meenagh


Cardiff University Business School

Patrick Minford


Cardiff University Business School; Centre for Economic Policy Research (CEPR)

Eric Nowell


University of Liverpool Management School (ULMS) - Economics Division

Prakriti Sofat


Cardiff University Business School

Naveen Srinivasan


Cardiff University Business School

May 2008

CEPR Discussion Paper No. DP6834

Abstract:     
It has been widely argued that inflation persistence since WWII has been widespread and durable and that it can only be accounted for by models with a high degree of nominal rigidity. We examine UK post-war data where after confirming previous studies' findings of varying persistence due to changing monetary regimes, we find that models with little nominal rigidity are best equipped to explain it.

Number of Pages in PDF File: 39

Keywords: Inflation Persistence, Monetary Regime Shifts, New Classical, New Keynesian, Nominal Rigidity

JEL Classification: E31, E37

working papers series


Date posted: June 12, 2008  

Suggested Citation

Meenagh, David and Minford, Patrick and Nowell, Eric and Sofat, Prakriti and Srinivasan, Naveen, Can the Facts of UK Inflation Persistence Be Explained by Nominal Rigidity? (May 2008). , Vol. , pp. -, 2008. Available at SSRN: http://ssrn.com/abstract=1143197

Contact Information

David Meenagh (Contact Author)
Cardiff University Business School ( email )
Colum Drive
Cardiff, CF1 3YN
United Kingdom
+44 29 2087 5198 (Phone)
+44 29 2087 4419 (Fax)
Patrick Minford
Cardiff University Business School ( email )
Colum Drive
Cardiff, CF1 3YN
United Kingdom
+44 29 2087 5728 (Phone)
+44 29 2087 4419 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Eric Nowell
University of Liverpool Management School (ULMS) - Economics Division ( email )
Eleanor Rathbone Building
Bedford Street North
Liverpool L69 7ZA
United Kingdom
+44 15 1794 3058 (Phone)
+44 15 1794 3032 (Fax)
Prakriti Sofat
Cardiff University Business School ( email )
Colum Drive
Cardiff, CF1 3YN
United Kingdom
Naveen K. Srinivasan
Cardiff University Business School ( email )
Colum Drive
Aberconway Building
Cardiff CF10 3EU
United Kingdom
+44 029 2087 6545 (Phone)
+44 029 2087 4419 (Fax)
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References:  66
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