Theoretical and Applied Economics
No. 4 / 2019 (621), Winter
The new Keynesian Phillips Curve. Implications. Strengths and weaknesses
The University of Manchester, The United Kingdom
Dumitru Alexandru BODISLAV
Bucharest University of Economic Studies, Romania
Abstract. The present paper explores the first Dynamic Stochastic General Equilibrium New Keynesian Model and it seeks to emphasize the main advantages and disadvantages involved by the NKPC. Firstly, we start the analysis by discussing briefly about the history of the Phillips Curve and then we try to stress the most important aspects regarding the standard and the hybrid New Keynesian Phillips Curves. Secondly, our goal is to provide an insight about this topic which can represent the starting point for further analysis. Moreover, a special section is included which emphasizes the evidence referred to the NKPC and the hybrid NKPC.
Keywords: the new Keynesian Phillips curve, the hybrid new Keynesian Phillips curve, dynamic stochastic general equilibrium models, forward-looking inflation, backward-looking inflation.
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Contents
- Expanding the Eurozone. The stage of economic convergence
for Bulgaria, Czech Republic, Croatia, Hungary,
Poland and Romania
Iulian Nicolae VASILOIU
- Volatility experience of major world stock markets
M. MALLIKARJUNA
R. Prabhakara RAO
- Unemployment hysteresis analysis for OECD countries
Muhammed TIRAŞOĞLU
- Culture as a driving factor for foreign direct investments
in the Western Development Region of Romania
Norbert FÖLDI
- A Deep Neural Network (DNN) based classification model
in application to loan default prediction
Selçuk BAYRACI
Orkun SUSUZ
- The new Keynesian Phillips Curve.
Implications. Strengths and weaknesses
Rareș-Petru MIHALACHE
Dumitru Alexandru BODISLAV
- Corporate ownership structure and performance:
An enquiry into India
Pradiptarathi PANDA
Jinesh PANCHALI
- Turkey’s macroeconomic policy challenges
in the aftermath of the 2018 crisis:
A sectoral financial balances analysis
Sashi SIVRAMKRISHNA
Dhruva Teja NANDIPATI
- Main aspects on the nature of dynamic models
Constantin ANGHELACHE
Dana Luiza GRIGORESCU
Oana BÎRSAN
- An analyses model
of the Romanian privately managed pension system
Dragoș Alexandru HAȘEGAN
- Dynamic models used in analysis capital and population
Mădălina-Gabriela ANGHEL
Ștefan Virgil IACOB
Gabriel-Ștefan DUMBRAVĂ
Marius POPOVICI
- Poverty rate determinants
in the Central and Eastern Europe member states
Maria-Daniela TUDORACHE
- Wagner versus Keynesian Hypothesis:
Role of aggregate and disaggregate expenditure in Pakistan
Kashif MUNIR
Wajid ALI
- GARCH based VaR estimation:
An empirical evidence from BRICS stock markets
Siva Kiran GUPTHA. K
Prabhakar RAO. R
- Does FDI substitute exports of home country?
A case of US FDI in select Asian economies
Ketan C. LIMAYE
Achut P. PEDNEKAR
- Exploring the role of institutions
in cross country Malmquist productivity analysis:
A two-stage double bootstrap DEA approach
Danish Ahmed SIDDIQUI
Qazi Masood AHMED
- The validity of Okun’s Law:
Evidences from Indian economy
Tariq Ahmad BHAT
Tariq Ahmad LONE
Towseef Mohi Ud DIN
