Non-stationary inflation and panel estimates of the n ew Keynesian Phillips curve for Australia

B. Rao, Antonio Paradiso () and Piero Esposito

MPRA Paper from University Library of Munich, Germany

Abstract: This paper uses a recent panel method of Russell and Banerjee (2008) to estimate the new Keynesian Phillips curve for Australia. Our estimates show that while the hybrid new Keynesian Phillips curve and backward looking conventional Phillips curve are well determined, estimates of the Phillips curve with the pure forward looking expectations are unsatisfactory.

Keywords: Panel data estimates; new Keynesian Phillips curve; Australia and Unit roots in the rate of inflation. (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Date: 2011-03-02
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:29242

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