Contacts, Credibility and Common Knowledge : Their Influenceon Inflation Convergence /
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, whic...
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| Tác giả khác: | |
| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
1992.
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| Loạt: | IMF Working Papers; Working Paper ;
No. 1992/026 |
| Truy cập trực tuyến: | Full text available on IMF |