Estimates of the sticky-information Phillips curve for the United States

被引：45

作者：

Khan, H ^{[1
]}

Zhu, ZH ^{[1
]}

机构：

[1] Carleton Univ, Dept Econ, Ottawa, ON K1S 5B6, Canada

来源：

JOURNAL OF MONEY CREDIT AND BANKING | 2006年 / 38卷 / 01期

关键词：

sticky information; Phillips curve; inflation;

D O I：

10.1353/mcb.2006.0018

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Mankiw and Reis (2002) have proposed a 'sticky-inforniation'-based Phillips curve (SIPC) to address some of the concerns with the 'sticky-price'-based new Keynesian Phillips curve. In this paper, we present a methodology to empirically implement the SIPC and estimate its key structural parameter-the degree of information stickiness-for the United States. Using this methodology, we estimate average durations of information stickiness that range from three quarters (on the low side) to over seven quarters (on the high side).

引用

页码：195 / 207

页数：13