Macro frictions and theoretical identification of the New Keynesian Phillips curve

I discuss theoretical identification of the New Keynesian Phillips curve, and show that it can be identified with limited information techniques when the data generating process is a New Keynesian model with enough macro frictions or persistent shocks. Monte Carlo experiments illustrate the quantitative relevance of the results.

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Year of publication:	2015
Authors:	Krogh, Tord S.
Published in:	Journal of Macroeconomics. - Elsevier, ISSN 0164-0704. - Vol. 43.2015, C, p. 191-204
Publisher:	Elsevier
Subject:	New Keynesian Phillips curve \| Identification \| Weak identification \| General method of moments

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Type of publication:	Article
Classification:	c18 ; c26 ; E31 - Price Level; Inflation; Deflation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011194162