کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5099296 1376998 2010 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
On the precision of Calvo parameter estimates in structural NKPC models
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات کنترل و بهینه سازی
پیش نمایش صفحه اول مقاله
On the precision of Calvo parameter estimates in structural NKPC models
چکیده انگلیسی
We study the extent of empirical information that can be obtained from alternative structural New Keynesian inflation equations concerning the average duration of prices in the United States, given that such specifications may be hard to identify. Using four different indexation and real-wage-rigidity-based models, in conjunction with identification-robust econometric methods, we evaluate the precision of Calvo parameter estimates. While results are sensitive to calibration and instrument selection, we find confidence bounds on the average duration of prices that line up with available micro-founded studies, statistically significant coefficients for the forcing variables, and non-zero estimates on the coefficient of lagged inflation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 34, Issue 9, September 2010, Pages 1582-1595
نویسندگان
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