Non-stationary inflation and panel estimates of the n ew Keynesian Phillips curve for Australia

This paper uses a recent panel method of Russell and Banerjee (2008) to estimate the new Keynesian Phillips curve for Australia. Our estimates show that while the hybrid new Keynesian Phillips curve and backward looking conventional Phillips curve are well determined, estimates of the Phillips curve with the pure forward looking expectations are unsatisfactory.

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Year of publication:	2011-03-02
Authors:	Rao, B. Bhaskara ; Paradiso, Antonio ; Esposito, Piero
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Panel data estimates \| new Keynesian Phillips curve \| Australia and Unit roots in the rate of inflation

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E31 - Price Level; Inflation; Deflation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008866123