DUFOUR, Jean-Marie; KHALAF, Lynda; KICHIAN, Maral - Centre Interuniversitaire de Recherche en Économie … - 2005
In this paper, we use identification-robust methods to assess the empirical adequacy of a New Keynesian Phillips Curve … concerning: (i) identification difficulties, (ii) backward-looking behavior, and (ii) the frequency of price adjustments. Overall … findings underscore the need for employing identification robust inference methods in the estimation of expectations …