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Identification of new Keynesian Phillips Curves from a global perspective

Dées, Stéphane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2008

New Keynesian Phillips Curves (NKPC) have been extensively used in the analysis of monetary policy, but yet there are a number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first is whether such equations are identified. To check...

Persistent link: https://www.econbiz.de/10003778781

Phillips curve shocks and real exchange rate fluctuations : SVAR evidence

Gehrke, Britta; Yao, Fang - 2014

Steinsson (2008) shows that real shocks that affect the New Keynesian Phillips curve explain the behavior of the real exchange rate in a sticky-price business cycle model. This paper reveals that these shocks are important for the volatility of the real exchange rate in the data. In a structural...

Persistent link: https://www.econbiz.de/10010400806

Identification of New Keynesian Phillips Curves from a Global Perspective

Dees, Stephane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2021

Persistent link: https://www.econbiz.de/10013316577

Potential output, output gap and high inflation in Argentina (2007-2015)

Campos, Luciano - In: Estudios de economía 47 (2020) 1, pp. 5-29

I investigate the causes of the high inflation Argentina experienced from 2007 to 2015. To do so, I estimate the potential output and the output gap using the Blanchard-Quah decomposition for this country and compare it to the estima- tions I obtained for other economies in the region were...

Persistent link: https://www.econbiz.de/10012268188

Inflation dynamics : expectations, structural breaks and global factors

Siklos, Pierre L. - In: Review of Economic Analysis : REA 12 (2020) 2, pp. 203-233

There is no consensus over the importance of "global forces" on inflation. This study explores the role of structural breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which "global forces" are relevant. Three conclusions stand out....

Persistent link: https://www.econbiz.de/10012269197

Identification of New Keynesian Phillips Curves from a Global Perspective

Dees, Stephane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2021

Persistent link: https://www.econbiz.de/10013325166

Identification of New Keynesian Phillips Curves from a global perspective

Dées, Stephane; Pesaran, M. Hashem; Smith, L. Vanessa; … - 2008

Persistent link: https://www.econbiz.de/10003652695

Linear Lagged Relationship between Inflation, Unemployment and Labor Force Change Rate in France : Cointegration Test

Kitov, Ivan; Kitov, Oleg; Dolinskaya, Svetlana - 2007

cointegration approach to the integral approach to the estimation of the coefficients in the individual and generalized … and 2004. The relationship is tested for cointegration. All three variables involved in the relationship are proved to be … integrated of order one. Two methods of cointegration testing are used. First is the Engle-Granger approach based on the unit …

Persistent link: https://www.econbiz.de/10014053159

Unemployment and inflation regimes

Vredin, Anders; Warne, Anders - 2000

In this paper we study 2-state Markov switching VAR models of monthly unemployment and inflation for three countries: Sweden, United Kingdom, and the United States. The primary purpose is to examine if periods of low inflation are associated with high or low unemployment volatility. We find that...

Persistent link: https://www.econbiz.de/10011584800

Evaluating the New Keynesian Phillips Curve under VAR-based learning

Fanelli, Luca (contributor) - 2008

Vector Autoregressive (VAR) model, whose coefficients are updated by maximum likelihood estimation as the information set … over the monitoring period 1986-2006. -- Adaptive learning ; cointegration ; cross-equation restrictions ; forward …

Persistent link: https://www.econbiz.de/10003764621