Danišková, Katarína; Fidrmuc, Jarko - Institut für Ost- und Südosteuropaforschung (IOS) - 2012
The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward-looking subjects on the market. Having reviewed about 200 studies, we analyze the weight of...