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Flattening of the Phillips curve and the role of the oil price: An unobserved component model for the USA and Australia
Paradiso, Antonio; Rao, B. Bhaskara - In: Economics Letters 117 (2012) 1, pp. 259-262
We used the unobserved component model of Harvey (1989, 2011) to estimate the Phillips curve for the USA and Australia, augmenting it with the oil price. Our results show that while the coefficient of demand pressure and the intercept decreased, the coefficient of the oil price increased....
Persistent link: https://www.econbiz.de/10011041564
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The nature of transactions in the U.S. aggregate goods market
Rao, B. Bhaskara - In: Economics Letters 41 (1993) 4, pp. 385-390
Persistent link: https://www.econbiz.de/10005296499
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Unit root hypothesis, new classical and Keynesian models
Rao, B. Bhaskara - In: Economics Letters 41 (1993) 1, pp. 47-52
Persistent link: https://www.econbiz.de/10005307437