Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/142149 
Autor:innen: 
Erscheinungsjahr: 
2015
Quellenangabe: 
[Journal:] Managing Global Transitions [ISSN:] 1854-6935 [Volume:] 13 [Issue:] 4 [Publisher:] University of Primorska, Faculty of Management Koper [Place:] Koper [Year:] 2015 [Pages:] 355-367
Verlag: 
University of Primorska, Faculty of Management Koper, Koper
Zusammenfassung: 
This paper investigates for the presence of a New Keynesian Phillips (NKPC) curve in Hungary in the period 1981:3–2006:2. The empirical model we test features forward-looking firms who pre-set prices for a couple of periods ahead, using Calvo (1983) pricing rule.We also estimate a hybrid version of NKPC, where some of the firms are backward looking, and others are forward-looking in their price-setting behaviour. Real marginal costs and forward-looking behaviour are statistically significant and quantitatively important in the nkpc.However, there are some econometric issues to be considered, such as the weak identification of the parameters of the structural NKPC as well as those of the hybrid NKPC.
Schlagwörter: 
New Keynesian Phillips curve
Hungary
instrumental non-linear gmm Estimation,
weak identification
JEL: 
C22
E24
Dokumentart: 
Article
Dokumentversion: 
Published Version
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
145.23 kB





Publikationen in EconStor sind urheberrechtlich geschützt.