المستودع الأكاديمي جامعة المدينة

The New Keynesian Phillips Curve and the role of expectations : evidence from the Ifo world economic survey

أعرض تسجيلة المادة بشكل مبسط

dc.creator Henzel, Steffen
dc.creator Wollmershäuser, Timo
dc.date 2006
dc.date.accessioned 2013-10-16T07:03:17Z
dc.date.available 2013-10-16T07:03:17Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19158
dc.identifier ppn:510038662
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19158
dc.description We provide evidence on the fit of the hybrid New Keynesian Phillips curve for selected euro zone countries, the US and the UK. Instead of imposing rational expectations and estimating the Phillips curve by the Generalized Method of Moments, we follow Roberts (1997) and Adam and Padula (2003) and use direct measures of inflation expectations. The data source is the Ifo World Economic Survey, which quarterly polls economic experts about their expected future development of inflation. Our main findings are as follows: (i) In comparison with the rational expectations approach, backward-looking behaviour turns out to more relevant for most countries in our sample. (ii) The use of survey data for inflation expectations yields a positive slope of the Phillips curve when the output gap is used as a measure for marginal cost.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1694
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E31
dc.subject C52
dc.subject ddc:330
dc.subject inflation expectations
dc.subject survey data
dc.subject euro zone
dc.subject Phillips curve
dc.subject Phillips-Kurve
dc.subject Inflationserwartung
dc.subject Rationale Erwartung
dc.subject Europäische Wirtschafts- und Währungsunion
dc.subject Schätzung
dc.subject EU-Staaten
dc.subject USA
dc.subject Großbritannien
dc.title The New Keynesian Phillips Curve and the role of expectations : evidence from the Ifo world economic survey
dc.type doc-type:workingPaper


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط