Econometric Evaluation of the New Keynesian Phillips Curve*

Autor:	Ragnar Nymoen, Gunnar Bårdsen, Eilev S. Jansen
Rok vydání:	2004
Předmět:	Statistics and Probability Inflation Economics and Econometrics Variable (computer science) media_common.quotation_subject New Keynesian economics Econometrics Economics Statistics Probability and Uncertainty Outcome (game theory) Phillips curve Social Sciences (miscellaneous) media_common
Zdroj:	Oxford Bulletin of Economics and Statistics. 66:671-686
ISSN:	1468-0084 0305-9049
DOI:	10.1111/j.1468-0084.2004.00097.x
Popis:	We give an appraisal of the New Keynesian Phillips curve (NPCM) as an empirical model of European inflation. The favourable evidence for NPCMs on euro-area data reported in earlier studies is shown to depend on specific choices made about estimation methodology. The NPCM can be re-interpreted as a highly restricted equilibrium correction model. We also report the outcome of tests based on variable addition and encompassing of existing models. The results show that economists should not accept the NPCM too readily.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::e30135f12049fac0a99cf868701c5d84 https://doi.org/10.1111/j.1468-0084.2004.00097.x Zobrazit plný text záznamu Plný text ve formátu PDF