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
A note on the stability of the Swedish Phillips curve
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DOI: 10.1007/s00181-019-01746-w
Abstract: We use Bayesian techniques to estimate bivariate VAR models for Swedish unemployment rate and inflation. Employing quarterly data from 1995Q1 to 2018Q3 and new tools for model selection, we compare models with time-varying parameters and/or… read more here.
Keywords: time; note stability; phillips curve; swedish phillips ... See more keywords
Inflation puzzles, the Phillips Curve and output expectations: new perspectives from the Euro Zone
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DOI: 10.1007/s10663-021-09515-8
Abstract: Confidence in the Phillips Curve (PC) as predictor of inflation developments along the business cycle has been shaken by recent “inflation puzzles” in advanced countries, such as the “missing disinflation” in the aftermath of the… read more here.
Keywords: phillips curve; inflation puzzles; euro zone; output ... See more keywords
Environmental Phillips curve: OECD and Asian NICs perspective
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DOI: 10.1007/s11356-020-08620-8
Abstract: This research aims to explore the existence of a new concept known as “environmental Phillips curve” (EPC) developed by the authors. Taking annual data of 30 countries for 26 years, a panel data estimation method is… read more here.
Keywords: phillips curve; asian nics; environmental phillips; pollution ... See more keywords
Monopsony with nominal rigidities: An inverted Phillips Curve
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DOI: 10.1016/j.econlet.2020.109124
Abstract: With nominal wage rigidities, it is crucial to distinguish whether wages are set by workers or firms — whether we have monopoly or monopsony power. This paper provides a model of monopsony power in the… read more here.
Keywords: phillips curve; nominal rigidities; monopsony nominal; inverted phillips ... See more keywords
Expectation formation and the Phillips curve revisited
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DOI: 10.1017/s1365100524000051
Abstract: Abstract This paper studies expectation formation of professional forecasters in the context of the Phillips curve. We assess whether professionals form their expectations regarding inflation and unemployment consistent with the Phillips curve based on individual… read more here.
Keywords: formation phillips; inflation unemployment; curve revisited; phillips curve ... See more keywords
Conflictual Inflation and the Phillips Curve
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DOI: 10.1080/09538259.2023.2294305
Abstract: ABSTRACT This paper presents a pedagogical guide to conflictual inflation, showing the similarities and differences between the post-Keynesian analysis and the alternative mainstream WS-PS model. Among other things, it shows the difficulties that analysts meet… read more here.
Keywords: inflation; conflictual inflation; phillips curve; inflation phillips ... See more keywords
The Phillips curve and the role of monetary policy in Chile
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DOI: 10.1080/15140326.2018.1526865
Abstract: ABSTRACT In this paper, the empirical analysis finds that the dynamics of inflation and unemployment can be described by a Phillips curve when allowing for a positive co-movement between trend-adjusted productivity and unemployment. This suggests… read more here.
Keywords: phillips curve; monetary policy; economics; curve role ... See more keywords
Phillips curve and long-run inflation under commitment
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DOI: 10.1108/jes-06-2018-0229
Abstract: The purpose of this paper is to study the optimal long-run rate of inflation in the presence of a hybrid Phillips curve, which nests a purely backward-looking Phillips curve and the purely forward-looking New Keynesian… read more here.
Keywords: phillips curve; inflation; long run; run rate ... See more keywords
Does the Phillips Curve Lie Down as We Age?
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DOI: 10.1111/jmcb.13254
Abstract: Using microlevel data, we present evidence that older individuals are less willing to substitute across varieties of goods. We estimate the elasticity of substitution for different age groups and find that the youngest cohort (aged… read more here.
Keywords: lie age; age; curve lie; phillips curve ... See more keywords