Article ID Journal Published Year Pages File Type
965888 Journal of Macroeconomics 2013 15 Pages PDF
Abstract
► A theory of inflation expectations is developed that is consistent with the data. ► The data is assumed to be stationary around a shifting mean. ► Estimates of Phillips curves are consistent with the statistical process of inflation. ► The estimates account for GARCH and shifting means in the inflation data.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Estimating United States Phillips curves with expectations consistent with the statistical process of inflation
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