scholarly journals Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve

10.3386/w8290 ◽  
2001 ◽  
Author(s):  
N. Gregory Mankiw ◽  
Ricardo Reis
Keyword(s):  
Phillips Curve ◽  
Sticky Prices ◽  
New Keynesian ◽  
New Keynesian Phillips Curve ◽  
Sticky Information

scholarly journals The New Keynesian Phillips Curve: From Sticky Inflation to Sticky Prices

2008 ◽  
Vol 40 (4) ◽  
pp. 667-699 ◽  
Author(s):  
CHENGSI ZHANG ◽  
DENISE R. OSBORN ◽  
DONG HEON KIM
Keyword(s):  
Phillips Curve ◽  
Sticky Prices ◽  
New Keynesian ◽  
New Keynesian Phillips Curve

scholarly journals Movement of Inflation and New Keynesian Phillips Curve in ASEAN

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 34
Author(s):  
Adhitya Wardhono ◽  
M. Abd. Nasir ◽  
Ciplis Gema Qori’ah ◽  
Yulia Indrawati
Keyword(s):  
Inflation Rate ◽  
Phillips Curve ◽  
New Keynesian ◽  
Inflation Expectations ◽  
New Keynesian Phillips Curve ◽  
Method Of Moment ◽  
Inflation Model ◽  
Wage Inflation ◽  
Generalized Method Of Moment ◽  
Forward Looking

The development of the theory of dynamic inflation begins by linking wage inflation and unemployment. In further developments, factor of expectation is classified into inflation model. The study used inflation data is important for ASEAN, because ASEAN is one of the strengths of the international economy. This study analyzes the dynamics of inflation in the ASEAN using framework the New-Keynesian Phillips Curve (NKPC) model. The data used is the quarterly panel data from 5 ASEAN members in the period 2005.QI–2018.QIV. The study of this dynamic inflation applies quarter to quarter inflation data, meaning that the inflation rate is the percentage change in the general price of the current quarter compared to last quarter general price divided by the last quarter. The empirical results are estimated by using the Generalized Method of Moment (GMM), both of the system and first different indicates that the pattern formation of inflation expectations are backward-looking and forward-looking. In addition, the estimated NKPC models show the backward-looking behavior is more dominant than the forward looking. Changes in inflation are not entirely influenced by expectations of inflation in each country. Changes in inflation are also influenced by the output gap, changes in money supply, and exchange rate. Based on the findings of this study, it can be concluded that the NKPC models can explain the dynamics of inflation in each country in the ASEAN region.

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