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Identifying the New Keynesian Phillips Curve [PDF]

open access: yes
Phillips curves are central to discussions of inflation dynamics and monetary policy. New Keynesian Phillips curves describe how past inflation, expected future inflation, and a measure of real marginal cost or an output gap drive the current inflation ...
Gregor W. Smith, James M. Nason
core  

The expectations trap hypothesis [PDF]

open access: yes
This article explores a hypothesis about the take-off in inflation in the early 1970s. According to the expectations trap hypothesis, the Fed was driven to high money growth by a fear of violating the expectations of high inflation that existed at the ...
Christopher Gust, Lawrence J. Christiano
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The Phillips Curve and Underlying Inflation [PDF]

open access: yes
This paper examines methods of controlling the supply shock in the estimation of the Phillips curve and discusses the relationship between the supply shock and inflation inertia. The empirical results clearly show that controlling the supply shock effect,
Mio, Hitoshi
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