A Theory-Based, State-Dependent Phillips Curve and its Estimation.
To explain the existing empirical irregularity about the slope of a Phillips curve, this article provides a model of imperfect competition to show that the slope of a Phillips curve is shock-dependent. We empirically apply a state-space, Markov-switching model to examine the impact of inflation surp...
| Publicado en: | Economic Inquiry Vol. 43; no. 1; pp. 194 - 206 |
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| Autores principales: | , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
January 2005
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |