Nymoen, Ragnar; Swensen, Anders Rygh; Tveter, Eivind - 2011 - Publisert 21. sep. 2011 17:28 - Sist endret 21. sep. 2011 17:29
We present a framework for interpretation of the empirical results of New Keynesian models of inflation dynamics. Both … the rational expectations solution of the structural New Keynesian Phillips curve, NKPC, and the reduced form VAR analysis … existence or not of a rational expectations solution in the case of homogeneity and forward-dominance. -- New Keynesian Phillips …