Funke, Michael - Hong Kong Institute for Monetary Research (HKIMR), … - 2005
the NKPC provides useful insights into the nature of inflation dynamics in mainland China as well as useful insights for …The New Keynesian Phillips curve (NKPC) posits the dynamics of inflation as forward looking and related to marginal … costs. In this paper we examine the empirical relevance of the NKPC for mainland China. The empirical results indicate that …