A simple test of the New Keynesian Phillips Curve

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• 作者：Andrea Carriero
• 关键词：VARs ; Inflation ; Phillips Curve
• 刊名：Economics Letters
• 出版年：2008
• 期刊代码：9_01651765
• 类别：eco
• 出版时间：August 2008
• 卷：100
• 期：2
• 页码：241-244
• 文件大小：382 K

摘要

We propose a way to test the New Keynesian Phillips Curve without having to estimate its structural parameters. We find that it does not exist as a combination of the structural parameters consistent with the US data. This might be due to the failure of the joint hypothesis of rational expectations.