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:: Volume 5, Issue 19 (6-2015) ::
2015, 5(19): 41-72 Back to browse issues page
The Investigation of Persistency and Inertia of Inflation in Iran: a Comparison of Hybrid Price Stickiness and Information Stickiness Models
Ali Hussein Samadi , Sakine Owjimehr
Abstract:   (3202 Views)
Hybrid sticky price model is one of  the main models, used to analyze the Persistencyand inertia in inflation. In recent years, Mankiw and Reis (2002),s sticky information model, has also been considered by many economic analysts. So, in present paper, we try to investigate and compare these models by using a Dynamic Stochastic General Equilibrium (DSGE) framework, based on new Keynesian structure. For this purpose, the data 1370:1-1391:4 Iran's economy has been used. The results of the estimated coefficient of inflation inertia indicate, inflation inertia in the model of hybrid price stickiness is more than information stickiness model. Inflation Persistency analysis is based on comparing the autocorrelation function of the original data and simulated data, show that hybrid price stickiness is better thaninformation stickiness model shows inflation persistence.It seems to be a hybrid price stickiness model more consistent with the economy of Iran and economic policy makers can be more confident of the results of this model to use them.
Keywords: Dynamic Stochastic General Equilibrium (DSGE), Hybrid Sticky Price Model, Sticky Information Model
     
Type of Study: Applicable | Subject: پولی و مالی
Received: 2014/04/7 | Accepted: 2015/01/12 | Published: 2015/06/15
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Samadi A H, Owjimehr S. The Investigation of Persistency and Inertia of Inflation in Iran: a Comparison of Hybrid Price Stickiness and Information Stickiness Models. Journal title 2015; 5 (19) :41-72
URL: http://jfm.khu.ac.ir/article-1-988-en.html


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Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 5, Issue 19 (6-2015) Back to browse issues page
فصلنامه تحقیقات مدلسازی اقتصادی Journal of Economic Modeling Research
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