Modeling Inflation Dynamics: A Critical Review of Recent Research
评述了使用理性预期粘性价格模型研究通胀动态的文献，指出这些模型在拟合数据、理性预期的重要性以及通胀压力衡量方面存在不足，未能提供有用的经验描述。
In recent years, a broad academic consensus has arisen that favors using rational expectations sticky‐price models to capture inflation dynamics. We review the principal conclusions of this literature concerning: (1) the ability of these models to fit the data; (2) the importance of rational forward‐looking expectations in price setting; and (3) the appropriate measure of inflationary pressures. We argue that existing models fail to provide a useful empirical description of the inflation process.