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This paper uses an econometric model and Bayesian estimation to reverse engineer the path of inflation expectations …
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This paper investigates for the presence of a New Keynesian Phillips (NKPC) curve in Hungary in the period 1981:3-2006:2, following the methodology proposed by Gali and Gertler (1999). They claim that a potential source of inflation may be the sluggish adjustment of real marginal costs to...
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This paper investigates for the presence of a New Keynesian Phillips (NKPC) curve in Hungary in the period 1981:3-2006:2. The empirical model we test features forward-looking firms who pre-set prices for a couple of periods ahead, using Calvo (1983) pricing rule.We also estimate a hybrid version...
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estimates are obtained using an extremum estimation method which is applied in the frequency domain. Such an estimator has the …
Persistent link: https://www.econbiz.de/10014065087