The New Keynesian framework for a small open economy with structural breaks: Empirical evidence from Peru
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DOI: 10.1016/j.strueco.2018.03.004
Abstract: We present evidence from Peru that The New Keynesian Phillips Curve, Dynamic IS and Taylor Rule derived by GalI and Monacelli (2005) are unstable. The results from methodology of Bai and Perron (2003) suggest that… read more here.
Keywords: peru new; evidence peru; keynesian framework; economy ... See more keywords