Buy this book
"These notes contain the derivations for results stated without proof in Hornstein (2007). First, I derive the log-linear approximation of the inflation dynamics in the Calvo-model with elements of backward-looking pricing when the approximation takes place around a positive average inflation rate. I derive a version of the "hybrid" New Keynesian Phillips Curve (NKPC) that can be estimated using standard GMM techniques. Second, I characterize the inflation dynamics implied by the NKPC when marginal cost follows an AR(1) process. For this purpose I derive the autocorrelation and crosscorrelation structure of inflation."--Federal Reserve Bank of Richmond web site.
Buy this book
Edition | Availability |
---|---|
1
Notes on the inflation dynamics of the new Keynesian Phillips curve
2007, Federal Reserve Bank of Richmond
Electronic resource
in English
|
aaaa
|
Book Details
Edition Notes
Title from PDF file as viewed on Sept. 17, 2007.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
Classifications
The Physical Object
ID Numbers
Community Reviews (0)
Feedback?December 19, 2020 | Edited by MARC Bot | import existing book |
December 10, 2009 | Created by WorkBot | add works page |