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- Title
The New Keynesian Phillips Curve in the United States and the euro area: aggregation bias, stability and robustness.
- Authors
Barkbu, Bergljot; Cassino, Vincenzo; Gosselin-Lotz, Aileen; Piscitelli, Laura
- Abstract
The article statistically tests the robustness of the New Keynesian Phillips Curve in the United States, the euro area, and three euro-area economies. In general, estimates of the structural and reduced-form co-efficients on the lagged and expected future inflation terms are in line with past studies for both in the U.S. and the euro area. One exception is the discount factor acquired for the euro area, which is lower than that found in majority of other studies.
- Subjects
PHILLIPS curve; PRICE inflation; MATHEMATICAL models of inflation; MATHEMATICAL models of the effect of inflation of unemployment; ECONOMICS
- Publication
Bank of England Quarterly Bulletin, 2006, Vol 46, Issue 1, p76
- ISSN
0005-5166
- Publication type
Article