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The New Keynesian Phillips Curve Tested on OECD Panel Data
Bjørnstad, Roger - 2011
definitions and choice of data samples. In an estimation on panel data from OECD countries we replicate the typical empirical NPC …
Persistent link: https://www.econbiz.de/10013132203
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The New Keynesian Phillips curve tested on OECD panel data
Bjørnstad, Roger (contributor); Nymoen, Ragnar (contributor) - 2008
Using a panel data set for OECD countries we replicate the typical features of the New Keynesian Phillips curve models … (NPCs) that have been estimated on country data. While this corroborates the NPC also on the macro panel data set, a … ; forward-looking price setting ; panel data model ; encompassing …
Persistent link: https://www.econbiz.de/10003732136
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International evidence on the efficacy of new-Keynesian models of inflation persistence
Korenok, Oleg; Radchenko, Stanislav; Swanson, Norman R. - 2011 - Rev.
We take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky information (SI), and sticky price with indexation models (SPI), with emphasis on their ability to mimic inflationary dynamics....
Persistent link: https://www.econbiz.de/10009130738
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International Evidence on the Efficacy of New-Keynesian Models of Inflation Persistence
Korenok, Oleg; Swanson, Norman R. - 2007
In this paper we take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky information (SI), and sticky price with indexation models (SPI), with emphasis on their ability to mimic...
Persistent link: https://www.econbiz.de/10014052485
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International evidence on the efficacy of new-Keynesian models of inflation persistence
Korenok, Oleg (contributor);  … - 2006
In this paper we take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky information (SI), and sticky price with indexation models (SPI), with emphasis on their ability to mimic...
Persistent link: https://www.econbiz.de/10003698507
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Pooled Bewley Estimator of Long-Run Relationships in Dynamic Heterogenous Panels
Chudik, Alexander; Pesaran, M. Hashem; Smith, Ron P. - 2023
This paper, using the Bewley (1979) transformation of the autoregressive distributed lag model, proposes a novel pooled Bewley (PB) estimator of long-run coefficients for dynamic panels with heterogeneous short-run dynamics, in the same setting as the widely used Pooled Mean Group (PMG)...
Persistent link: https://www.econbiz.de/10014357208
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The New Keynesian Phillips Curve Tested on OECD Panel Data
Bjørnstad, Roger; Nymoen, Ragnar - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-23, pp. 1-18
Using a panel data set for OECD countries we replicate the typical features of the New Keynesian Phillips curve models … (NPCs) that have been estimated on country data. While this corroborates the NPC also on the macro panel data set, a …
Persistent link: https://www.econbiz.de/10010295320
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The New Keynesian Phillips curve tested on OECD panel data
Bjørnstad, Roger (contributor); Nymoen, Ragnar (contributor) - 2008
definitions and choice of data samples. In an estimation on panel data from OECD countries we replicate the typical empirical NPC …
Persistent link: https://www.econbiz.de/10003631862
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Evaluation and indirect inference estimation of inattentive features in a New Keynesian framework
Chou, Jenyu; Cao, Yifei; Minford, Patrick - 2022
We test the standard New Keynesian (NK) Dynamic Stochastic General Equilibrium (DSGE) model under the condition with and without inattentive features, where inattentiveness is modelled in the form of sticky information and imperfect information data revision. All models are tested with the...
Persistent link: https://www.econbiz.de/10013177227
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Closed-form estimates of the New Keynesian Phillips Curve with time-varying trend inflation
Barnes, Michelle L.; Gumbau-Brisa, Fabià; Lie, Denny; … - 2009
We compare estimates of the New Keynesian Phillips Curve (NKPC) when the curve is specified in two different ways. In the standard difference equation (DE) form, current inflation is a function of past inflation, expected future inflation, and real marginal costs. The alternative closed form...
Persistent link: https://www.econbiz.de/10003914086