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What drives inflation in New Keynesian models?

Christian Matthes and Mu-Chun Wang

Economics Letters, 2012, vol. 114, issue 3, 338-342

Abstract: This paper estimates variants of a small-scale New Keynesian model using observations on inflation, inflation expectations and nominal interest rates. We ask whether those variables alone can tell us something about the time series properties of real marginal costs.

Keywords: Marginal cost; Phillips curve; Inflation expectations (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1016/j.econlet.2011.11.012

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