Global ETD Search
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Showing 1 to 15 of 15 for “"Phillips Curve"”.
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A Retrospective View of the Phillips Curve and Its Empirical Validity since the 1950s
Since the 1960s, the Phillips curve has survived various significant changes (Kuhnian paradigm shifts) in macroeconomic theory and generated endless controversies. This dissertation revisits several important, representative papers throughout the curve's four historical, formative periods: …
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Investigating the relationship between the bank rate, unemployment and inflation: The Phillips curve in Namibia
… vein, the study aims to find out whether the Phillips curve is applicable to the Namibian economy, by using times series data of inflation, unemployment and bank rate from 1961 to 2012 and employing the Vector Auto Regression (VAR) model to estimate the data. The ADF and PP unit root tests are …
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Three Essays at the Intersection of Social Theory and Political Economy
… a method in the sociology of science, to the Phillips curve. In doing so, the implicit biases within both theoretical and empirical approaches to the Phillips curve are elucidated, recognizing the limitations of traditional labor underutilization measures. Alternative labor underutilization …
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Inflation and unemployment in the South African democratic era: is there any trade-off
… through examining the applicability of both the Phillips Curve and the New Keynesian Phillips Curve to determine whether these macroeconomic theories can be adopted in the fight against these economic issues facing South Africa. The Autoregressive Distributed Lag modelling technique is adopted by …
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Long run determination of inflation in South Africa
… techniques in an expectations augmented Phillips curve framework to investigate long run determinants of inflation. By separating unit labour costs in nominal wages and labour productivity in an extension of the work by Fedderke and Schaling (2005), the labour productivity effect is shown …
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ESSAYS ON MONETARY ECONOMICS
… 1 tests the forward-looking New Keynesian Phillips curve using a novel panel data set for the 50 U.S. states from year 1977 to 2005. Consistent with Gali and Gertler (1999), our results support a linkage between inflation and real unit labor cost, and reject a linkage between inflation and …
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Three Essays on Natural Rates
… after the global crisis. Some argued that the Phillips curve had disappeared. Estimating the output gap and the unemployment gap might not give accurate results because they are unobservable natural rates. We developed a structural model of inflation that allows for a fraction of firms that use …
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Endogenous Shocks in the New Keynesian Model
… attention to endogenous shocks to the Phillips curve. One reason for such scrutiny is their ability to generate a meaningful tradeoff between inflation and the output gap without resorting to ad hoc exogenous shocks. Chapter 1 surveys three mechanisms that give rise to such endogenous …
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Essays on Monetary Theory
… degrees of commitment for the always-binding Phillips curve and occasionally-binding zero lower bound.</p>
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Essays on Monetary Policy Rules and Inflation Dynamics
… and globalization, under an open-economy Phillips Curve framework, for a panel of OECD countries with a dynamic panel GMM methodology. Contrary to most of the previous literature, which ignores such nonlinearities, my new approach provides some interesting empirical evidence supportive of …
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Three Essays on Monetary Policy Rules
… such as Gali and Gertler (1999). We show that IS curve, in addition to the Phillips curve is more realistically estimated with the new output gap measure than the traditional output gap measure (deviations from detrended output) suggesting that the new output gap measure might be more close to the …
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Essays in Financial Economics
… the risk price puzzle with an upward-sloping Phillips curve. To resolve the puzzle, I develop a novel macro-finance model that integrates a two-sector real business cycle framework with the government debt valuation equation, which determines the price level without nominal rigidities. …
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Central bank credibility, endogenous beliefs and short-run Phillips curves
… became more intense after the discovery of the Phillips curve which appeared to show a stable trade-off between inflation and unemployment. This curve in its original form has now been abandoned and debate has centered around the question of a short run trade-off. It is this question, do …
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Three essays in macroeconomic forecasting using Bayesian model selection
… quarterly US inflation based on the generalized Phillips curve using econometric methods which incorporate dynamic model averaging. These methods not only allow for coefficients to change over time, but also for the entire forecasting model to change over time. I find that dynamic model averaging …
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Essays in Modern Macroeconomics
… imply a larger slope than the traditional NK Phillips curve as, for a positive productivity shock that lowers marginal costs, quality-adjusted prices decline because firms are simultaneously able to increase the quality of their products. Allowing firms to adjust product quality also amplifies …