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The Hybrid New Keynesian Phillips Curve And The Nairu Over Time - Lena Vogel
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New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the 'Triangle Model' of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the 'Triangle Model' of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run NAIRU to vary over time. Moreover, households' inflation expectations are measured directly from consumer surveys by the University of Michigan and the European Commission and are not instrumented for. Our model is estimated for the US, the UK, Italy and Spain and finds considerable variation in the short-run NAIRU over time with NAIRU estimates significantly different from HP-filter derived measures such as usually employed in dynamic stochastic general equilibrium models. Furthermore, we compare stationary and nonstationary NAIRUs, as well as short- and long-run NAIRUs and find that results are generally robust across specifications. Books, Business & Economics~~Economics~~General, The-Hybrid-New-Keynesian-Phillips-Curve-And-The-Nairu-Over-Time~~Lena-Vogel, 999999999, The Hybrid New Keynesian Phillips Curve And The Nairu Over Time, Lena Vogel, 3639221311, VDM Verlag, , , , , VDM Verlag

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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time - An Empirical Study for the US, the UK, Italy and Spain
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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time - An Empirical Study for the US, the UK, Italy and Spain - Taschenbuch

2009, ISBN: 9783639221312

[ED: Taschenbuch / Paperback], [PU: VDM Verlag Dr. Müller], New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the Triangle Model of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run NAIRU to vary over time. Moreover, households inflation expectations are measured directly from consumer surveys by the University of Michigan and the European Commission and are not instrumented for. Our model is estimated for the US, the UK, Italy and Spain and finds considerable variation in the short-run NAIRU over time with NAIRU estimates significantly different from HP-filter derived measures such as usually employed in dynamic stochastic general equilibrium models. Furthermore, we compare stationary and nonstationary NAIRUs, as well as short- and long-run NAIRUs and find that results are generally robust across specifications., [SC: 0.00], Neuware, gewerbliches Angebot, [GW: 102g]

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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time - Lena Vogel
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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time - Taschenbuch

2009

ISBN: 3639221311

ID: 9777079673

[EAN: 9783639221312], Neubuch, [PU: Vdm Verlag Dez 2009], This item is printed on demand - Print on Demand Titel. - New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the Triangle Model of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run NAIRU to vary over time. Moreover, households inflation expectations are measured directly from consumer surveys by the University of Michigan and the European Commission and are not instrumented for. Our model is estimated for the US, the UK, Italy and Spain and finds considerable variation in the short-run NAIRU over time with NAIRU estimates significantly different from HP-filter derived measures such as usually employed in dynamic stochastic general equilibrium models. Furthermore, we compare stationary and nonstationary NAIRUs, as well as short- and long-run NAIRUs and find that results are generally robust across specifications. 64 pp. Englisch

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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time - Lena Vogel
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ISBN: 9783639221312

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New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the Triangle Model of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run NAIRU to vary over time. Moreover, households inflation expectations are measured directly from consumer surveys by the University of Michigan and the European Commission and are not instrumented for. Our model is estimated for the US, the UK, Italy and Spain and finds considerable variation in the short-run NAIRU over time with NAIRU estimates significantly different from HP-filter derived measures such as usually employed in dynamic stochastic general equilibrium models. Furthermore, we compare stationary and nonstationary NAIRUs, as well as short- and long-run NAIRUs and find that results are generally robust across specifications. Bücher / Sozialwissenschaften, Recht & Wirtschaft / Wirtschaft, [PU: VDM Verlag Dr. Müller, Saarbrücken]

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The Hybrid New Keynesian Phillips Curve And The Nairu Over Time - Lena Vogel
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The Hybrid New Keynesian Phillips Curve And The Nairu Over Time The-Hybrid-New-Keynesian-Phillips-Curve-And-The-Nairu-Over-Time~~Lena-Vogel Business>Economics & Finance>Economics & Finance Paperback, VDM Verlag

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The Hybrid New Keynesian Phillips Curve and the NAIRU over Time
Autor:

Vogel, Lena

Titel:

The Hybrid New Keynesian Phillips Curve and the NAIRU over Time

ISBN-Nummer:

3639221311

New Keynesian models of the Phillips Curve generally assume a short run trade-off between inflation and a measure of excess demand due to nominal rigidities, while in the long run inflation is constant at the 'Non-Accelerating Inflation Rate of Unemployment' (NAIRU). By contrast, models such as the 'Triangle Model' of inflation explicitly allow for a time-varying NAIRU. We combine both approaches and estimate state-space models of the hybrid New Keynesian Phillips curve, allowing the short-run NAIRU to vary over time. Moreover, households' inflation expectations are measured directly from consumer surveys by the University of Michigan and the European Commission and are not instrumented for. Our model is estimated for the US, the UK, Italy and Spain and finds considerable variation in the short-run NAIRU over time with NAIRU estimates significantly different from HP-filter derived measures such as usually employed in dynamic stochastic general equilibrium models. Furthermore, we compare stationary and nonstationary NAIRUs, as well as short- and long-run NAIRUs and find that results are generally robust across specifications.

Detailangaben zum Buch - The Hybrid New Keynesian Phillips Curve and the NAIRU over Time


EAN (ISBN-13): 9783639221312
ISBN (ISBN-10): 3639221311
Gebundene Ausgabe
Taschenbuch
Erscheinungsjahr: 2009
Herausgeber: VDM Verlag
64 Seiten
Gewicht: 0,112 kg
Sprache: eng/Englisch

Buch in der Datenbank seit 06.08.2009 14:26:28
Buch zuletzt gefunden am 25.10.2016 14:31:11
ISBN/EAN: 3639221311

ISBN - alternative Schreibweisen:
3-639-22131-1, 978-3-639-22131-2

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