Bonomolo, Paolo - In: Rivista di Politica Economica 99 (2009) 4, pp. 65-88
Models, comparing the results obtained through a traditional and a New Keynesian model. We verify that the traditional … measures of output gap, even if usually applied in the estimation of the New Keynesian Phillips curve, are not consistent with … the theory. We propose a New Keynesian measure that overcomes this limit. We suggest it as an alternative to the use of …