[cid:image003.png@01D44F54.60C7EFF0][JVI_2011] Joint Vienna Macroeconomics Seminar The Joint Vienna Institute and the Institute for Advanced Studies (IHS) cordially invite you to the following Joint Vienna Macroeconomics Seminar: Jesper Linde (Sveriges Riksbank)<https://www.ihs.ac.at/events/detail/event/termin/jvm-seminar-jesper-linde-sveriges-riksbank/> Date: Monday, April 29, 2019 2:15 pm Venue: Institute for Advanced Studies (IHS), SE 101, 1st floor Josefstädter Straße 39, 1080 Vienna Resolving the Missing Deflation Puzzle Abstract: We propose a resolution of the missing deflation puzzle. Our resolution stresses the impor- tance of nonlinearities in price- and wage-setting when the economy is exposed to large shocks. We show that a nonlinear macroeconomic model with real rigidities resolves the missing deflation puzzle, while a linearized version of the same underlying nonlinear model fails to do so. In addition, our nonlinear model reproduces the skewness of inflation and other macroeconomic variables observed in post-war U.S. data. All told, our results caution against the common practice of using linearized models to study inflation and output dynamics. Co-Author: Mathias Trabandt (Freie Universität Berlin, School of Business and Economics) We are looking forward to seeing you! Impressum<https://www.ihs.ac.at/services-for-ihs-members/impressum/> Institut für Höhere Studien - Institute for Advanced Studies (IHS) Josefstädter Straße 39, 1080 Vienna How to get to the IHS<https://www.ihs.ac.at/about/contact/how-to-get-to-the-ihs/> Tel: +43-1-59991-0 Fax: +43-1-59991-555 Email: office(at)ihs.ac.at<mailto:office@ihs.ac.at> Web: www.ihs.ac.at<http://www.ihs.ac.at/> ZVR-Zahl: 066207973 Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107. Sollten Sie keine weiteren Zusendungen wuenschen, senden Sie uns bitte eine kurze Mitteilung: event@ihs.ac.at<mailto:event@ihs.ac.at>. und an noeg-l@wu.ac.at<mailto:noeg-l@wu.ac.at> (https://mailman.wu.ac.at/mailman/listinfo/noeg-l.) Unsere Datenschutzerklärung finden Sie hier.<https://ihs.ac.at/de/datenschutzerklaerung> If you no longer wish to receive our mailings please send an e-mail to: event@ihs.ac.at<mailto:event@ihs.ac.at>. Also sent to noeg-l@wu.ac.at<mailto:noeg-l@wu.ac.at> (https://mailman.wu.ac.at/mailman/listinfo/noeg-l.) You can find our privacy policy here.<https://ihs.ac.at/privacy-policy>