Inflation Dynamics in Seven Industrialised Open Economies
Nicoletta Batini () and
No 116, Computing in Economics and Finance 2004 from Society for Computational Economics
Abstract: The literature on the New Phillips Curve (NPC) started off with an analysis of pricing behaviour in economies that are closed and with price and wage contracts that are either of the Calvo or Taylor-style. In the spirit of the Batini, Jackson and Nickell (2000) here we focus on the open-economy aspects of the NPC and in the spirit of Dotsey, King and Wolman (1999) and Guerrieri (2001) we then analyse the fit of different price contracting specifications. We estimate via Maximum Likelihood 'hybrid' structural pricing equations for seven open-economy industrialised countries for contracts which are either Calvo, Taylor or Time-dependent. We then use autocorrelations and impulse-response functions to determine their ability to fit the data.
Keywords: inflation dynamics; open economy; ML estimation; staggered contracts (search for similar items in EconPapers)
JEL-codes: E37 E52 E58 (search for similar items in EconPapers)
References: Add references at CitEc
Citations View citations in EconPapers (3) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Working Paper: Inflation Dynamics in Seven Industrialised Open Economies (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:sce:scecf4:116
Access Statistics for this paper
More papers in Computing in Economics and Finance 2004 from Society for Computational Economics Contact information at EDIRC.
Series data maintained by Christopher F. Baum ().