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The New Keynesian Phillips Curve Tested on OECD Panel Data

Bjørnstad, Roger - 2011

Using a panel data set for OECD countries we replicate the typical features of the New Keynesian Phillips curve models … (NPCs) that have been estimated on country data. While this corroborates the NPC also on the macro panel data set, a …

Persistent link: https://www.econbiz.de/10013132125

The New Keynesian Phillips curve tested on OECD panel data

Bjørnstad, Roger (contributor); Nymoen, Ragnar (contributor) - 2008

Persistent link: https://www.econbiz.de/10003732136

Testing the Bhaduri-Marglin Model with OECD Panel Data

Hartwig, Jochen - 2014

number of countries. This paper is the first to test the Bhaduri-Marglin model with panel data. It finds that demand growth …

Persistent link: https://www.econbiz.de/10013059882

International Evidence on the Efficacy of New-Keynesian Models of Inflation Persistence

Korenok, Oleg; Swanson, Norman R. - 2007

In this paper we take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky information (SI), and sticky price with indexation models (SPI), with emphasis on their ability to mimic...

Persistent link: https://www.econbiz.de/10014052485

International evidence on the efficacy of new-Keynesian models of inflation persistence

Korenok, Oleg; Radchenko, Stanislav; Swanson, Norman R. - In: Journal of applied econometrics 25 (2010) 1, pp. 31-54

Persistent link: https://www.econbiz.de/10008666817

International evidence on the efficacy of new-Keynesian models of inflation persistence

Korenok, Oleg; Radchenko, Stanislav; Swanson, Norman R. - 2011 - Rev.

We take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky information (SI), and sticky price with indexation models (SPI), with emphasis on their ability to mimic inflationary dynamics....

Persistent link: https://www.econbiz.de/10009130738

The New Keynesian Phillips curve tested on OECD panel data

Bjørnstad, Roger (contributor); Nymoen, Ragnar (contributor) - 2008

definitions and choice of data samples. In an estimation on panel data from OECD countries we replicate the typical empirical NPC …

Persistent link: https://www.econbiz.de/10003631862

Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation

Barnes, Michelle L.; Gumbau-Brisa, Fabia; Lie, Denny; … - 2009

We compare estimates of the New Keynesian Phillips Curve (NKPC) when the curve is specified in two different ways. In the standard difference equation (DE) form, current inflation is a function of past inflation, expected future inflation, and real marginal costs. The alternative closed form...

Persistent link: https://www.econbiz.de/10014199833

A Response to Cogley and Sbordone's Comment on 'Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation'

Barnes, Michelle L. - 2011

In their 2010 comment (which we refer to as CS10), Cogley and Sbordone argue that: (i ) our estimates are not entirely closed form, and hence are arbitrary; (ii ) we cannot guarantee that our estimates are valid, while their estimates (Cogley and Sbordone 2008, henceforth CS08) always are; and...

Persistent link: https://www.econbiz.de/10013123632

Estimation of Forward-Looking Relationships in Closed Form : An Application to the New Keynesian Phillips Curve

Barnes, Michelle L. - 2011

We illustrate the importance of placing model-consistent restrictions on expectations in the estimation of forward-looking Euler equations. In two-stage limited-information settings where first-stage estimates are used to proxy for expectations, parameter estimates can differ substantially,...

Persistent link: https://www.econbiz.de/10013123635