Wongwachara, Warapong; Minphimai, Anusorn - In: Journal of Economics and Management 5 (2009) 2, pp. 241-256
The subject of this paper is the estimation of the Phillips relation ¡V the inflation-output gap tradeoff ¡V for ASEAN countries. Unobserved component (UC) models are employed in order to extract the output gap from GDP data. We also obtain stylised facts on macroeconomic cycles namely, (i)...