phillips curve
The Persistence of Inflation Versus that of Real Marginal Cost in the New Keynesian Model
by: shinta, 4 pagesAs shown by Roberts (1995), several models including Rotemberg (1982) and Calvo (1983) lead to a ”New Keynesian” Phillips Curve (NKPC) in which current inflation is related to ...
In search of the natural rate of unemployment
by: samanta, 15 pagesThe natural rate of unemployment can be measured as the time-varying steady state of a structural vectorautoregression. For post-War US data, the natural rate implied by this approach is more ...
Searching for the Natural Rate of Unemployment in a Large Relative Price Shocks' Economy: the Brazilian Case
by: samanta, 28 pagesThis paper contributes to fill the huge existing gap in the literature on the Brazilian natural rate of unemployment. It reveals not only that the Brazilian Phillips curve (PC) has broken down since ...
Optimal Monetary Policy in an Economy with Ination Persistence
by: samanta, 39 pagesThis paper studies optimal monetary policy in a model where ination is persistent. Two types of price setters are assumed to exist. One acts rationally given Calvo-type constraints on price setting. ...
