The asymmetry of the New Keynesian Phillips Curve in the euro-area

Georgios Chortareas, George Magonis and Theodore Panagiotidis
Authors registered in the RePEc Author Service: Georgios Magkonis

Economics Letters, 2012, vol. 114, issue 2, 161-163

Abstract: Using a two-stage quantile regression framework, we uncover significant asymmetries across quantiles for all coefficients in an otherwise standard New Keynesian Phillips Curve (NKPC) for the euro area. A pure NKPC specification accurately captures inflation dynamics at high inflation quantiles.

Keywords: New Keynesian Phillips Curve; Quantile regression; Euro-area; Asymmetries (search for similar items in EconPapers)
JEL-codes: C20 E30 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:2:p:161-163

DOI: 10.1016/j.econlet.2011.09.035

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