Bårdsen, Gunnar; Jansen, Eilev S.; Nymoen, Ragnar - Økonomisk institutt, Universitetet i Oslo - 2003
The dynamic properties of the The New Keynesian Phillips curve (NPC) is analysed within the framework of a small system of linear di.erence equations.We evaluate the empirical results of existing studies which uses ‘Euroland’ and US data. The debate has been centered around the...