Non-stationary inflation and panel estimates of the n ew Keynesian Phillips curve for Australia
AbstractThis paper uses a recent panel method of Russell and Banerjee (2008) to estimate the new Keynesian Phillips curve for Australia. Our estimates show that while the hybrid new Keynesian Phillips curve and backward looking conventional Phillips curve are well determined, estimates of the Phillips curve with the pure forward looking expectations are unsatisfactory.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 29242.
Date of creation: 02 Mar 2011
Date of revision:
Panel data estimates; new Keynesian Phillips curve; Australia and Unit roots in the rate of inflation.;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-19 (All new papers)
- NEP-CBA-2011-03-19 (Central Banking)
- NEP-MAC-2011-03-19 (Macroeconomics)
- NEP-MON-2011-03-19 (Monetary Economics)
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