Inflation surprises in a New Keynesian economy with a "true" consumption function.

The resurgence of inflation has been accompanied by a reversal of prospects of growth, with a prominent role assigned to the fall of households' purchasing power. Yet this real income effect of inflation surprises, independent of restrictive monetary policy, is not present in the standard New Keynes...

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Bibliographic Details

Published in:	Economic Inquiry Vol. 62; no. 3; pp. 1192 - 1216
Main Author:	Tamborini, Roberto
Format:	Article
Published:	Wiley-Blackwell Jul2024
Subjects:	Price inflation Income Monetary policy Real income Purchasing power
Online Access:	View this record in EBSCOhost