NEW KEYNESIAN PHILLIPS CURVE FOR ROMANIA

被引：0

作者：

Saman, Corina ^{[1
]}

Pauna, Bianca ^{[2
]}

机构：

[1] Romanian Acad, Inst Econ Forecasting, Bucharest, Romania

[2] Romanian Acad, Natl Inst Econ Res, Ctr Macroecon Modeling, Bucharest, Romania

来源：

ROMANIAN JOURNAL OF ECONOMIC FORECASTING | 2013年 / 16卷 / 02期

关键词：

New Keynesian Phillips curve; Inflation; Potential output; INFLATION;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips curve linking inflation to output gap. We estimated two models that differed only in the assumption regarding the speed of adjustment of the cyclical unemployment to changes in output. The estimation results proved that the Phillips curve is not very different. It can be observed that the forward-looking component of the NKPC is only marginally larger than the backward looking component in both specifications.

引用

页码：159 / 171

页数：13

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