| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5067065 | European Economic Review | 2012 | 20 Pages |
Abstract
⺠We develop a New Keynesian monetary model with inventories for final goods. ⺠We show that the Phillips curve depends on the inventory-sales ratio. ⺠In order to analyze inflation dynamics we estimate the New Keynesian Phillips curve using GMM. ⺠The inventory specification does not improve upon the standard New Keynesian Phillips curve. ⺠Time series for unobservable marginal cost can be constructed from optimality conditions.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Thomas A. Lubik, Wing Leong Teo,