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 …

The canonical New Keynesian model specifies inflation …

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 …

In this paper we test a new empirical relationship between wage and inflation. We introduce the concept of a cumulative … relation between their current wages and their past wages, adjusted for inflation. We call this the post-crisis Phillips Curve …. The shape of the post-crisis Phillips Curve expresses the theoretical assumption that the inflation rate stays below its …

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 …

inflation and inflation uncertainty. Thus, we can test for state-dependence of the Calvo parameter in a straightforward way. To … that a number of shortcomings of empirical NKPC model representations in explaining inflation data may be addressed by … the relation between inflation and marginal costs are considerably reduced in the framework of our more general NKPC …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …