Output, Inflation and the New Keynesian Phillips Curve Chadha, Jagjit S.; Nolan, Charles

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Authors
Chadha, Jagjit S. ; Nolan, Charles
Appears In
International Review of Applied Economics
Subjects
Phillips curve -- Research; Keynesian economics; Chadha, Jagjit S. -- Research
Audience
Academic
Summary
The key stochastic influences on inflation without resource to ad hoc cost or excess demand shocks is determined for the New Keynesian Phillips Curve (NKPC) in inflation-output space. The econometric implementation of NKPC, which evolves strictly according news on the stream of future marginal costs, allows to derive inflation as a forecast of future variables.
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http://trove.nla.gov.au/work/575
Work ID
575

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