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dc.contributor.authorBårdsen, Gunnarnb_NO
dc.contributor.authorJansen, Eilev S.nb_NO
dc.contributor.authorNymoen, Ragnarnb_NO
dc.date.accessioned2014-12-19T14:31:57Z
dc.date.available2014-12-19T14:31:57Z
dc.date.created2006-10-05nb_NO
dc.date.issued2002nb_NO
dc.identifier126119nb_NO
dc.identifier.urihttp://hdl.handle.net/11250/267167
dc.description.abstractWe give an appraisal of the New Keynesian Phillips curve (NPC) as an empirical model of European inflation. We show that existing evidence reported in favour of the NPC on Euro-area and country data is due to a corroborative research strategy. In particular, goodness-of-fit is a weak criterion, since the NPC-fit is well approximated by a random walk. Instead we report the outcome of more critical tests, and the importance of modelling a system that includes the forcing variables as well as the rate of inflation is emphasized. Finally, encompassing tests are applied to open economy versions of the NPC for UK and Norway.nb_NO
dc.languageengnb_NO
dc.publisherInstitutt for samfunnsøkonominb_NO
dc.relation.ispartofseriesWorking Paper Series, 1503-299X; 2002:21nb_NO
dc.titleThe Empirical (ir)Relevance of the New Keynesian Phillips Curvenb_NO
dc.typeResearch reportnb_NO
dc.contributor.departmentNorges teknisk-naturvitenskapelige universitet, Fakultet for samfunnsvitenskap og teknologiledelse, Institutt for samfunnsøkonominb_NO


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