A new Keynesian framework and wage and price dynamics in the USA
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DOI: 10.1007/s00181-017-1320-8
Abstract: This paper investigates theoretical implications from a new Keynesian model focusing on the labor market, by imposing them as testable restrictions in an estimated vector error correction model on US data from 1982Q3 to 2016Q1.… read more here.
Keywords: wage price; model; dynamics usa; price dynamics ... See more keywords
New Keynesian Phillips Curve with time-varying parameters
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DOI: 10.1007/s00181-018-1536-2
Abstract: I generalize the New Keynesian Phillips Curve model of Galí and Gertler (J Monet Econ 44:195–222, 1999) to allow for time-varying parameters. The parameter of interest measures the trade-off between inflation and real economic activity,… read more here.
Keywords: phillips curve; time varying; time; keynesian phillips ... See more keywords
Estimates of the New Keynesian Phillips Curve for Pakistan
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DOI: 10.1007/s00181-019-01659-8
Abstract: This paper presents estimates of the New Keynesian Phillips Curve (NKPC) for the agriculture, manufacturing and services sectors of Pakistan’s economy. The real marginal cost—derived from dynamic translog cost function—labour share of income and output… read more here.
Keywords: keynesian phillips; new keynesian; estimates new; curve pakistan ... See more keywords
Two-sided learning and short-run dynamics in a New Keynesian model of the economy
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DOI: 10.1016/j.econlet.2017.06.041
Abstract: We investigate the role of asymmetric information and learning in a New Keynesian framework in which private agents and the central bank have imperfect knowledge of the economy. We assume that agents employ the data… read more here.
Keywords: sided learning; learning short; two sided; short run ... See more keywords
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
RAMSEY OPTIMAL POLICY IN THE NEW-KEYNESIAN MODEL WITH PUBLIC DEBT
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DOI: 10.1017/s136510052000070x
Abstract: In the discrete-time new-Keynesian model with public debt, Ramsey optimal policy eliminates the indeterminacy of simple-rules multiple equilibria between the fiscal theory of the price level versus new-Keynesian versus an unpleasant equilibrium. If public debt… read more here.
Keywords: new keynesian; optimal policy; debt; public debt ... See more keywords
Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations
Sign Up to like & getrecommendations! Published in 2021 at "American Economic Journal: Macroeconomics"
DOI: 10.1257/mac.20180427
Abstract: I analyze an extension of the New Keynesian model that features overlapping generations of finitely-lived agents and (stochastic) transitions to inactivity. In contrast with the standard model, the proposed framework allows for the existence of… read more here.
Keywords: new keynesian; monetary policy; keynesian model; overlapping generations ... See more keywords