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Oil prices, gasoline prices, and inflation expectations (replication data)
It has long been suspected, given the salience of gasoline prices, that fluctuations in gasoline prices shift households' 1-year inflation expectations. Assessing this view... -
Consumer inflation expectations, income changes and economic downturns (repli...
Using a novel, nationally representative dataset containing the expectations of over 300,000 Australians, individuals are shown to form expectations in a manner inadequately... -
A Bounded Model of Time Variation in Trend Inflation, Nairu and the Phillips ...
In this paper, we develop a bivariate unobserved components model for inflation and unemployment. The unobserved components are trend inflation and the non-accelerating... -
Using OLS to Estimate and Test for Structural Changes in Models with Endogeno...
We consider the problem of estimating and testing for multiple breaks in a single-equation framework with regressors that are endogenous, i.e. correlated with the errors. We... -
IDENTIFICATION ISSUES IN LIMITED‐INFORMATION BAYESIAN ANALYSIS OF STRUCTURAL ...
The likelihood of the parameters in structural macroeconomic models typically has non-identification regions over which it is constant. When sufficiently diffuse priors are... -
POSTERIOR‐PREDICTIVE EVIDENCE ON US INFLATION USING EXTENDED NEW KEYNESIAN PH...
Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a set of extended New Keynesian Phillips curve (NKPC)... -
International evidence on the efficacy of new‐Keynesian models of inflation p...
We take an agnostic view of the Phillips curve debate, and carry out an empirical investigation of the relative and absolute efficacy of Calvo sticky price (SP), sticky... -
Identifying the new Keynesian Phillips curve (replication data)
Phillips curves are central to discussions of inflation dynamics and monetary policy. The hybrid new Keynesian Phillips curve (NKPC) describes how past inflation, expected... -
Expectation horizon and the Phillips Curve: the solution to an empirical puzz...
Estimates of the slope of the Phillips curve reported in the literature cover a range from roughly ? 0.6 to zero depending on specification. Forward-looking specifications,...
