sticky-price version of the New Keynesian Phillips Curve does a good job of approximating US inflation dynamics. However … countercyclical whereas theory predicts marginal cost should be procyclical, and it employs a counterfactual assumption about the … to the entire underlying model of the NKPC. Thus I conclude that the NKPC fails to give a sound explanation of inflation …

The New Keynesian Phillips Curve (NKPC), driven by unit labor costs has been criticized for failing to match inflation … inflation and strengthen the empirical support for the role of expectations-based inflation persistence. They also imply a …

wage and price dynamics. Recent empirical implementations stress the idea that these models link inflation to the behavior … declining inflation and labor shares in Euro area. In this paper, we show that with realistic parameters, the canonical Calvo …

The canonical New Keynesian model specifies inflation …

only provides an insubstantial depiction of Turkish inflation from 2005 to 2009. On the contrary, the conventional and … hybrid NKPC are both found to be valid descriptions of the inflation process in Turkey …

earlier work by Sbordone. The estimator is again applied to a version of the New Keynesian Phillips curve, in which inflation …. While confirming the importance of forward-looking terms in accounting for inflation dynamics, it suggests how the … methodology can be applied to extend the analysis of inflation to a multivariate setting …

This paper presents a new formulation of conflict inflation labeled the "pass-through" approach, which contrasts with … the existing "pressure balance" approach. The model generates Phillips styled inflation - unemployment dynamics that are a … hybrid of Keynesian and NAIRU dynamics. Conflict inflation arises when economic activity rises above the consistent claims …

Woodford (2001) has presented evidence that the new-Keynesian Phillips curve fits the empirical behavior of inflation … curve is a very poor model of price inflation. We conclude that there is little reason to view the labor income share as a …