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Estimates of the Sticky-Information Phillips Curve for the USA with the General to Specific Method

Author

Listed:
  • Paradiso, Antonio
  • Rao, B. Bhaskara
  • Ventura, Marco

Abstract

This paper tests for the time series properties of the variables in the sticky information Phillips curve and estimates it for the US with the general to specific method (GETS). Our results show that the estimates of the stickiness parameter range from 0.25 to 0.42.

Suggested Citation

  • Paradiso, Antonio & Rao, B. Bhaskara & Ventura, Marco, 2011. "Estimates of the Sticky-Information Phillips Curve for the USA with the General to Specific Method," MPRA Paper 28867, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28867
    as

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    File URL: https://mpra.ub.uni-muenchen.de/28867/1/MPRA_paper_28867.pdf
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    References listed on IDEAS

    as
    1. B. Bhaskara Rao, 2007. "Estimating short and long-run relationships: a guide for the applied economist," Applied Economics, Taylor & Francis Journals, vol. 39(13), pages 1613-1625.
    2. Khan, Hashmat & Zhu, Zhenhua, 2006. "Estimates of the Sticky-Information Phillips Curve for the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(1), pages 195-207, February.
    3. N. Gregory Mankiw & Ricardo Reis, 2001. "Sticky Information: A Model of Monetary Nonneutrality and Structural Slumps," Harvard Institute of Economic Research Working Papers 1941, Harvard - Institute of Economic Research.
    4. Christopher D. Carroll, 2003. "Macroeconomic Expectations of Households and Professional Forecasters," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 269-298.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Sticky information Phillips curve; General to specific method; Stickiness parameter;

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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