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Scheibe, Jörg; Vines, David - C.E.P.R. Discussion Papers - 2005

This paper models Chinese inflation using an output gap Phillips curve. Inflation modelling for the world’s sixth largest economy is a still under-researched topic. We estimate a partially forward-looking Phillips curve as well as traditional backward-looking Phillips curves. Using quarterly...

Persistent link: https://www.econbiz.de/10005656372

What drives inflation in New Keynesian models?

Matthes, Christian; Wang, Mu-Chun - In: Economics Letters 114 (2012) 3, pp. 338-342

This paper estimates variants of a small-scale New Keynesian model using observations on inflation, inflation expectations and nominal interest rates. We ask whether those variables alone can tell us something about the time series properties of real marginal costs.

Persistent link: https://www.econbiz.de/10010572234

Inflation Dynamics in Turkey : In Pursuit of a Domestic Cost Measure

Andic, Selen Baser; Kucuk, Hande; Ogunc, Fethi - Türkiye Cumhuriyet Merkez Bankası - 2014

We provide Bayesian estimates of an empirical model of consumer price inflation for Turkey based on the hybrid New Keynesian Phillips Curve. We decompose real marginal costs into domestic and foreign components and focus particularly on identifying the effect of the domestic component. We find...

Persistent link: https://www.econbiz.de/10010941446

Phillips Curve for Advanced Economies on Period 1996-2007 - United States and Euro Area Case

Manuel, Eduardo - Volkswirtschaftliche Fakultät, … - 2006

This paper explains and shows us the Phillips Curve for advanced economies on period 1996-2007 for specially for the United States and Euro area case. The informations for 2006 and 2007 was considered being in attention the forecasting of International Monetary Fund (IMF) for these years. We...

Persistent link: https://www.econbiz.de/10005837539

How flexible are real wages in EU countries? A panel investigation

Rusinova, Desislava; Lipatov, Vilen; Heinz, Frigyes … - In: Journal of Macroeconomics 43 (2015) C, pp. 140-154

We estimate the degree of real wage flexibility in 19 EU countries in a wage Phillips curve panel framework. We find evidence for a reaction of wage growth to unemployment and productivity growth. The degree of real wage flexibility tends to be larger in the central and eastern European (CEE)...

Persistent link: https://www.econbiz.de/10011194164

The Phillips Curve and the Tyranny of an Assumed Unique Macro Equilibrium

Lipsey, Richard G. - Department of Economics, Simon Fraser University - 2013

which there is a unique ergodic macro equilibrium, the paper starts by reviewing both the early Keynesian theory in which …, which introduced into current macro theory a natural rate of unemployment (and its associated equilibrium level of national … inconsistent with the existence of either a unique natural rate or a NAIRU but is consistent with evolutionary theory in which …

Persistent link: https://www.econbiz.de/10010701770

Derivation and Estimation of a Phillips Curve with Sticky Prices and Sticky Information

Arslan, Mesut Murat - Volkswirtschaftliche Fakultät, … - 2005

I develop a structural model of inflation by combining two different models of price setting behavior: the sticky price model of the New Keynesian literature and the sticky information model of Mankiw and Reis. In a framework similar to the Calvo model, I assume that there are two types of...

Persistent link: https://www.econbiz.de/10005789618

Liquidity and Welfare in a Heterogeneous-Agent Economy

Wen, Yi - 2009

This paper reconsiders the welfare costs of inflation and the welfare gains from financial intermediation in a heterogeneous-agent economy where money is held as a store of value (as in Bewley, 1980). Because of heterogeneous liquidity demand, transitory lump-sum money injections can have...

Persistent link: https://www.econbiz.de/10012718024

Good Asset Purchase Plan (GAPP) : A Strategy for Economic Recovery

Wang, Shaun - 2009

In this paper we propose a Good Asset Purchase Plan (GAPP), as a cure for the falling U.S. housing market and a stimulus for economic recovery. The central theme of the plan is that the U.S. Government directly purchases minority shares (say, up to 20%) of good assets such as residential...

Persistent link: https://www.econbiz.de/10012718052

Convergencia al estado estacionario, flexibilidad de precios y reglas monetarias en un modelo SN de expectativas de inflación

Lizarazu Alanez, Eddy - In: Revista Nicolaita de Estudios Económicos IX (2014) 1, pp. 7-46

We study the question of convergence to steady state in a continuous time deterministic model SN (neoclassical synthesis). The review is based on a scheme of perfect foresight for the expected inflation rate. The analysis allows us to draw two conclusions. First, the flexibility of prices is not...

Persistent link: https://www.econbiz.de/10010991600

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