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Disequilibrium macroeconomic dynamics, income distribution and wage-price Phillips curves : evidence from the US and the euro area

Proaño Acosta, Christian; Flaschel, Peter; Ernst, Ekkehard - 2006

current inflation rates and adaptive expectations concerning the inflation climate in which the economy operates. The model … correction terms, and indirectly of income distribution, in the dynamics of wage and price inflation in the U.S. and the euro …

Persistent link: https://www.econbiz.de/10003744531

Keynesian Macrodynamics and the Phillips Curve : An Estimated Baseline Macromodel for the U.S. Economy

Chen, Pu - 2006

rate rule. It is based on sticky wages and prices, perfect foresight of current inflation rates and adaptive expectations … concerning the inflation climate in which the economy operates. A version of Okun's law is used to link capacity utilization to … will lose this feature if the inflationary climate variable or the price inflation rate itself adjusts sufficiently fast …

Persistent link: https://www.econbiz.de/10012734101

Wage and Price Phillips Curves

Krolzig, Hans-Martin; Flaschel, Peter - Royal Economic Society - RES - 2003

In this paper we introduce a small Keynesian model of economic growth which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...

Persistent link: https://www.econbiz.de/10005022102

Wage and Price Phillips Curves An empirical analysis of destabilizing wage-price spirals

Krolzig, Hans-Martin; Flaschel, Peter - Department of Economics, Oxford University - 2003

Persistent link: https://www.econbiz.de/10010605118

Wage and Price Phillips Curves An empirical analysis of destabilizing wage-price spirals

Flaschel, Peter; Krolzig, Hans-Martin - Economics Group, Nuffield College, University of Oxford - 2003

Persistent link: https://www.econbiz.de/10005730280

Wage-price Phillips Curves and macroeconomic stability : basic structural form, estimation and analysis

Flaschel, Peter; Krolzig, Hans-Martin - In: Quantitative and empirical analysis of nonlinear …, (pp. 7-47). 2006

In this paper we introduce a small Keynesian model of economic growth, which is centered around two advanced types of Phillips curves, one for money wages and one for prices, both being augmented by perfect myopic foresight and supplemented by a measure of the medium-term inflationary climate...

Persistent link: https://www.econbiz.de/10003324031