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A New Keynesian Phillips curve for Tunisia : Estimation and analysis of sensitivity

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  • Ben Ali, Samir

Abstract

In this paper, we study some empirical issues in the estimation of a New-Keynesian Phillips curve for Tunisia. In this purpose, we compare the performance of the strict and hybrid forms in the validation of data. In addition, we try to establish the sensitivity of the Phillips curve estimation to some empirical speci�cations. It includes the measures to be used for the output gap variable, as well as the implementation of the generalized method of moments for the estimation of this curve.

Suggested Citation

  • Ben Ali, Samir, 2010. "A New Keynesian Phillips curve for Tunisia : Estimation and analysis of sensitivity," MPRA Paper 29624, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:29624
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    File URL: https://mpra.ub.uni-muenchen.de/29624/1/MPRA_paper_29624.pdf
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    References listed on IDEAS

    as
    1. James M. Nason & Gregor W. Smith, 2008. "Identifying the new Keynesian Phillips curve," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 23(5), pages 525-551.
    2. Jeffrey C. Fuhrer & Giovanni P. Olivei, 2005. "Estimating forward-looking Euler equations with GMM estimators: an optimal-instruments approach," Proceedings, Board of Governors of the Federal Reserve System (U.S.), pages 87-114.
    3. Clarida, Richard & Gali, Jordi & Gertler, Mark, 1998. "Monetary policy rules in practice Some international evidence," European Economic Review, Elsevier, vol. 42(6), pages 1033-1067, June.
    4. Hilde Bjørnland & Leif Brubakk & Anne Jore, 2008. "Forecasting inflation with an uncertain output gap," Empirical Economics, Springer, vol. 35(3), pages 413-436, November.
    5. Gali, Jordi & Gertler, Mark & David Lopez-Salido, J., 2005. "Robustness of the estimates of the hybrid New Keynesian Phillips curve," Journal of Monetary Economics, Elsevier, vol. 52(6), pages 1107-1118, September.
    6. Alexei Onatski & Noah Williams, 2010. "Empirical and policy performance of a forward-looking monetary model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(1), pages 145-176.
    7. Baghli, M. & Bouthevilain, C. & De Bandt, O. & Fraisse, H. & Le Bihan, H. & Rousseaux, P., 2002. "PIB potentiel et écart de PIB : quelques évaluations pour la France," Working papers 89, Banque de France.
    8. Ulf Söderström & Paul Söderlind & Anders Vredin, 2005. "New-Keynesian Models and Monetary Policy: A Re-examination of the Stylized Facts," Scandinavian Journal of Economics, Wiley Blackwell, vol. 107(3), pages 521-546, September.
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    More about this item

    Keywords

    monetary policy; New Keynesian Phillips curve; Inflation; sensitivity; Tunisia;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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