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The role of relative prices in a generalized new keynesian Phillips curve

Author

Listed:
  • Kolver Hernandez

    () (Centro de Investigacion y Docencia Economicas,A.C.)

Abstract

Literatura reciente atribuye una fraccion importante de la volatilidad de la inflacion a los choques de costos. Este articulo desarrolla y estima un modelo microfundado, dinamico, estocastico y de equilibrio general, el cual establece un papel de primer orden para la dinamica de precios relativos. Una medida de desalineamientos de precios relativos aparece en la nueva curva Keynesiana de Phillips, del modelo, la cual resembla un choque de costos. El analisis de impulso respuesta sugiere que una interpretacion alternativa a los efectos de los choques de costos exogenos en la curva de Phillips se basa en la respuesta endogena de los precios relativos a choques exogenos que los perturban.

Suggested Citation

  • Kolver Hernandez, 2008. "The role of relative prices in a generalized new keynesian Phillips curve," EconoQuantum, Revista de Economia y Negocios, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 5(1), pages 35-59, Julio - D.
  • Handle: RePEc:qua:journl:v:5:y:2008:i:1:p:35-59
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    More about this item

    Keywords

    Relative prices; inflation dynamics; output fluctuations.;

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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