Time-dependent pricing andNew Keynesian Phillips curve
| Year of publication: |
2009-03-23
|
|---|---|
| Authors: | Yao, Fang |
| Institutions: | Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> |
| Subject: | Preisbildung | pricing | Inflation | Phillips-Kurve | Gleichgewichtsmodell |
- 1 Introduction
- 2 Related literature
- 3 The model
- 3.1 Monopolistic competition firms
- 3.2 Generalized time-dependent price stickiness
- 3.3 The optimal pricing
- 3.4 Derivation of the New Keynesian Phillips curve
- 4 Analytical Results
- 4.1 Derive the Calvo NKPC from the generalized NKPC
- 4.2 Interpretation of lagged inflation in the NKPC
- 4.3 The NKPC with trend inflation (g)
- 5 Numerical experiments
- 5.1 The general equilibrium model
- 5.2 Calibration
- 5.3 Simulation results
- 6 Conclusion
- A Deviation of the New Keynesian Phillips curve
- A.1 Log-linearize the optimal price equation
- A.2 Derivation of New Keynesian Phillips curve
- B Proof for Proposition 1
- C The Weibull distribution
Persistent link: https://www.econbiz.de/10005866230