A simple test of the New Keynesian Phillips Curve

Andrea Carriero ()

Economics Letters, 2008, vol. 100, issue 2, pages 241-244

Abstract: We propose a way to test the New Keynesian Phillips Curve without having to estimate its structural parameters. We find that it does not exist as a combination of the structural parameters consistent with the US data. This might be due to the failure of the joint hypothesis of rational expectations.

Date: 2008

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Working Paper: A Simple Test of the New Keynesian Phillips Curve (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolet:v:100:y:2008:i:2:p:241-244

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