Review paper
Learning and Estimation of the New Keynesian Phillips Curve Models
Abstract
The extant literature is split on the best measure of marginal cost in the New Keynesian Philips Curve, with the output gap and the labor share being the most commonly advocated proxy measures. Which one is the best measure? In this article, I assume that agents update their understanding and expectation period by period, a learning process. In terms of econometrics, I use a recursive Vector Autoregression approach and conduct a forecasting...
Paper Details
Title
Learning and Estimation of the New Keynesian Phillips Curve Models
Published Date
Oct 1, 2011
Journal
Volume
78
Issue
2
Pages
382 - 396
Citation AnalysisPro
You’ll need to upgrade your plan to Pro
Looking to understand the true influence of a researcher’s work across journals & affiliations?
- Scinapse’s Top 10 Citation Journals & Affiliations graph reveals the quality and authenticity of citations received by a paper.
- Discover whether citations have been inflated due to self-citations, or if citations include institutional bias.
Notes
History