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Can the facts of UK inflation persistence be explained by nominal rigidity?

Meenagh, David, Minford, Patrick, Nowell, Eric, Sofat, Prakriti and Srinivasan, Naveen 2010. Can the facts of UK inflation persistence be explained by nominal rigidity? [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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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.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Cardiff University
Date of First Compliant Deposit: 30 March 2016
Last Modified: 04 Jun 2017 08:25
URI: http://orca.cf.ac.uk/id/eprint/77785

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