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Meta-Analysis of the New Keynesian Phillips Curve

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  • Katarína Danišková

    ()
    (Comenius University, Bratislava)

  • Jarko Fidrmuc

Abstract

The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward-looking subjects on the market. Having reviewed about 200 studies, we analyze the weight of the forward-looking behavior in the hybrid New Keynesian Phillips Curve by means of meta regression. We show that selected data and method characteristics have significant impact on reported results. Moreover, we find a significant publication bias including publications in top journals, while we document no bias for the most cited studies and the most cited authors.

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Bibliographic Info

Paper provided by Institut für Ost- und Südosteuropaforschung (Institute for East and South-East European Studies) in its series Working Papers with number 314.

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Length: 34
Date of creation: Apr 2012
Date of revision:
Handle: RePEc:ost:wpaper:314

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Keywords: inflation; New Keynesian Phillips curve; meta-analysis; publication bias;

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References

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Cited by:
  1. Petra Valickova & Tomas Havranek & Roman Horvath, 2013. "Financial Development and Economic Growth: A Meta-Analysis," Working Papers IES 2013/04, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised May 2013.

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