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This paper tests Phillips curves using an autoregressive distributed lag (ADL) specification that encompasses the New Keynesian Phillips curve (NKPC), the Hybrid Phillips curve (HPC), the Sticky-Information Phillips curve (SIPC), and the accelerationist Phillips curve (APC). We use data from...
Persistent link: https://www.econbiz.de/10011372176
variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
Persistent link: https://www.econbiz.de/10011372339
study, the following are more remarkable. Firstly, the inflationary inertia and expectation of inflation are important … variables for the dynamic of inflation although the relevance of expectation seems to be more relevant in a more recent period … that the sum of coefficients of lagged inflation and expectation of inflation is equal to unity. Thirdly, the effect of …
Persistent link: https://www.econbiz.de/10010330593
variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
Persistent link: https://www.econbiz.de/10010405199
This paper tests Phillips curves using an autoregressive distributed lag (ADL) specification that encompasses the New Keynesian Phillips curve (NKPC), the Hybrid Phillips curve (HPC), the Sticky-Information Phillips curve (SIPC), and the accelerationist Phillips curve (APC). We use data from...
Persistent link: https://www.econbiz.de/10010406311
This paper estimates the Brazilian NAILO (Nonaccelerating Inflation Level of Output), obtains (Bayesian) probability … the Nailo and the acceleration of inflation. As explained in the text, the NAILO should not be confused with the country … inflation rate between 0.5 and 0.7 pp (percentage points). We also observed a very close relationship between changes in the …
Persistent link: https://www.econbiz.de/10003772458
Persistent link: https://www.econbiz.de/10010330933
Persistent link: https://www.econbiz.de/10009730202
The purpose of this article is to show that access to indexed assets during the high inflation regime (1990-1993) was …
Persistent link: https://www.econbiz.de/10005685302
Persistent link: https://www.econbiz.de/10003909666