IDEAS home Printed from https://ideas.repec.org/a/taf/intecj/v36y2022i2p147-157.html
   My bibliography  Save this article

Reevaluating the Role of Cost-Push and Technology Shocks in a Sticky Price Model

Author

Listed:
  • Yongseung Jung

Abstract

This paper sets up a nominal price rigidity model with catching up with the Joneses to address the relative importance of technology, cost-push, and monetary policy shocks in driving business cycles. This paper shows that the technology shock is the most important source of the post-war U.S. output and inflation variations, and the cost-push shock plays a moderate role in output variations in the model with habit. This finding contrasts with Ireland's results, wherein the cost-push shock explains 80% of output variations in the long run in the sticky price model without habit in consumption.

Suggested Citation

  • Yongseung Jung, 2022. "Reevaluating the Role of Cost-Push and Technology Shocks in a Sticky Price Model," International Economic Journal, Taylor & Francis Journals, vol. 36(2), pages 147-157, April.
    • Handle: RePEc:taf:intecj:v:36:y:2022:i:2:p:147-157
    DOI: 10.1080/10168737.2022.2052743
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10168737.2022.2052743
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10168737.2022.2052743?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:intecj:v:36:y:2022:i:2:p:147-157. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RIEJ20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.