Saunoris, James W.; Payne, James E. - In: Economia Internazionale / International Economics 60 (2007) 3, pp. 355-364
This study re-examines the expectations augmented Phillips Curve allowing for time-varying volatility investigated by Ewing and Seyfried (2003) over a longer time period. Though there is evidence of time-varying variance associated with inflation, the inclusion of the conditional volatility in...