Meta-Analysis of the New Keynesian Phillips Curve

Katarína Danišková () and Jarko Fidrmuc
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Katarína Danišková: Comenius University, Bratislava

No 314, Working Papers from Leibniz Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies)

Abstract: The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward-looking subjects on the market. Having reviewed about 200 studies, we analyze the weight of the forward-looking behavior in the hybrid New Keynesian Phillips Curve by means of meta regression. We show that selected data and method characteristics have significant impact on reported results. Moreover, we find a significant publication bias including publications in top journals, while we document no bias for the most cited studies and the most cited authors.

Keywords: inflation; New Keynesian Phillips curve; meta-analysis; publication bias (search for similar items in EconPapers)
JEL-codes: C32 E31 E52 (search for similar items in EconPapers)
Pages: 34
Date: 2012-04
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (3)

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