KRZYWA PHILIPSA PDF

The model assumes representative monopolistic competition firms with a stochastic nominal rigidity mechanism. Under this mechanism the firms set prices of their products that maximize discounted profits in infinite horizon under rational expectations, with regard of the possibility of nominal rigidity in future. Within this framework we can derive the New Keynesian Phillips Curve implies that in the short term inflation is determined by three variables. The results show that inflation is an increasing function of: i future inflation expectations, ii current output gap and iii specific measure of price dispersion weighted geometric average of the prices. The last component was not included in the literature, hence it is a novel feature of the derivation presented in the paper. Journal: Ekonomia.

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PL EN. Search Browse About. Article details. Link to site. Studia Prawno-Ekonomiczne. Article title. Nowokeynesowska hybrydowa krzywa Philipsa — szacunki dla Polski. Full texts: Download. Title variants. New Keynesian hybrid Philips curve: estimation for Poland by means of monthly data. Languages of publication.

The so called hybrid NKPC that is taken in the investigation extends the NKPC by adaptive expectations, which allows for implementation of the theoretical New Keynesian model to empirical analyses. Starting with theoretical specification, the authors provide the reader with statistical data and the estimation method used in the research, which is followed by presentation of empirical outcomes and conclusions.

LXXXI Physical description. Instytut Ekonomiczny NBP. Bludnik I. Calvo G. Gali J. Matyas L. Romer D.

Rudd J. Smets F. Taylor J. Welfe A. Wallush J. Wojtyna A. Woodford M. Verbeek M. Document Type. Publication order reference. YADDA identifier. JavaScript is turned off in your web browser.

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