Lanne, Markku; Luoto, Jani - In: Journal of Economic Dynamics and Control 37 (2013) 3, pp. 561-570
autoregressive model for the inflation rate. By construction, our approach avoids a number of problems related to the GMM estimation … of the NKPC. We estimate the hybrid NKPC with quarterly U.S. data (1955:1–2010:3), and both expected future inflation and … lagged inflation are found important in determining the inflation rate, with the former clearly dominating. Moreover …