Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/121546
Authors: 
Maka, Alexis
Barbosa, Fernando de Holanda
Year of Publication: 
2014
Series/Report no.: 
Texto para Discussão, Instituto de Pesquisa Econômica Aplicada (IPEA) 2003
Abstract (Translated): 
This paper tests Phillips curves using an autoregressive distributed lag (ADL) specification that encompasses the New Keynesian Phillips curve (NKPC), the Hybrid Phillips curve (HPC), the Sticky-Information Phillips curve (SIPC), and the accelerationist Phillips curve (APC). We use data from Brazil (1996Q1-2012Q2), using the output gap and alternatively the real marginal cost as measure of inflationary pressure. The empirical evidence rejects the restrictions implied by the NKPC, the HPC, and SIPC, but does not reject those implied by the APC.
Subjects: 
inflation
Phillips curve
encompassing specification
JEL: 
E31
C52
Document Type: 
Working Paper

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