Utilize este identificador para referenciar este registo: http://hdl.handle.net/10071/14365
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dc.contributor.authorMartins, L. F.-
dc.contributor.authorGabriel, V. J.-
dc.date.accessioned2017-09-06T13:48:21Z-
dc.date.available2017-09-06T13:48:21Z-
dc.date.issued2009-
dc.identifier.issn0164-0704por
dc.identifier.urihttps://ciencia.iscte-iul.pt/id/ci-pub-6205-
dc.identifier.urihttp://hdl.handle.net/10071/14365-
dc.description.abstractIn this paper, we examine parameter identification in the hybrid specification of the New Keynesian Phillips Curve proposed by Gali and Gertler [Gali, J., Gertler, M., 1999. Inflation dynamics: a structural econometric analysis. Journal of Monetary Economics 44, 195-222]. We employ recently developed moment conditions inference procedures, which provide a more efficient and reliable econometric framework for the analysis of the NKPC. In particular, we address the issue of parameter identification, obtaining robust confidence sets for the model's parameters. Our results cast serious doubts on the empirical validity of the NKPC.por
dc.language.isoengpor
dc.publisherElsevierpor
dc.rightsopenAccesspor
dc.subjectGeneralized Empirical Likelihoodpor
dc.subjectGMMpor
dc.subjectPhillips curvepor
dc.subjectWeak identificationpor
dc.titleNew Keynesian Phillips Curves and potential identification failures: a Generalized Empirical Likelihood analysispor
dc.typearticleen_US
dc.pagination561-571por
dc.publicationstatusPublicadopor
dc.peerreviewedyespor
dc.relation.publisherversionThe definitive version is available at: http://dx.doi.org/10.1016/j.jmacro.2009.01.003por
dc.journalJournal of Macroeconomicspor
dc.distributionInternacionalpor
dc.volume31por
dc.number4por
degois.publication.firstPage561por
degois.publication.lastPage571por
degois.publication.issue4por
degois.publication.titleJournal of Macroeconomicspor
dc.date.updated2017-09-06T13:47:15Z-
dc.identifier.doi10.1016/j.jmacro.2009.01.003-
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