Hall, Stephen G.; Hondroyiannis, George; Swamy, P. A. V. B. - In: Southern Economic Journal 76 (2009) 2, pp. 467-481
The New Keynesian Phillips Curve (NKPC) specifies a relationship between inflation and a forcing variable and the current period’s expectation of future inflation. Most empirical estimates of the NKPC, typically based on generalized method of moments (GMM) estimation, have found a significant...
