Macro frictions and theoretical identification of the New Keynesian Phillips curve

Tord S. Krogh

Journal of Macroeconomics, 2015, vol. 43, issue C, 191-204

Abstract: I discuss theoretical identification of the New Keynesian Phillips curve, and show that it can be identified with limited information techniques when the data generating process is a New Keynesian model with enough macro frictions or persistent shocks. Monte Carlo experiments illustrate the quantitative relevance of the results.

Keywords: New Keynesian Phillips curve; Identification; Weak identification; General method of moments (search for similar items in EconPapers)
JEL-codes: C18 C26 E31 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:43:y:2015:i:c:p:191-204

DOI: 10.1016/j.jmacro.2014.11.002

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