Castle, Jennifer; Doornik, Jurgen A.; Hendry, David F.; … - 2010 - Publisert 23. des. 2010 11:56 - Sist endret 3. jan. 2011 10:55
The new-Keynesian Phillips curve (NKPC) includes expected future inflation to explain current inflation. Such models are estimated by replacing the expected value by the future outcome, using Instrumental Variables or Generalized Method of Momentsmethods. However, the underlying theory does not...
