We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …

We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …

We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …

Swedish data by means of GMM and Full Information Maximum Likelihood. The results show that with real marginal cost in the … variable for Swedish inflation than the output gap. However, standard errors in the estimations are large and it is in fact … difficult to pin down a statistically significant relationship between either real marginal cost or the output gap and inflation. …

importance of inflation dynamics. In contrast, (homogeneous) GMM estimators induce a negative bias on marginal costs, yet a … of two important empirical debates. First, to what extent properly measured marginal costs affect inflation dynamics …. Second, to what extent purely forward looking inflation can be reconciled with the data. In this paper, we show heterogeneity …

Swedish data by means of GMM and Full Information Maximum Likelihood. The results show that with real marginal cost in the … variable for Swedish inflation than the output gap. However, standard errors in the estimations are large and it is in fact … difficult to pin down a statistically significant relationship between either real marginal cost or the output gap and inflation. …