Meta-analysis of the New Keynesian Phillips Curve

Arbeitspapier

The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward-looking subjects on the market. Having reviewed about 200 studies, we analyze the weight of the forward-looking behavior in the hybrid New Keynesian Phillips Curve by means of meta regression. We show that selected data and method characteristics have significant impact on reported results. Moreover, we find a significant publication bias including publications in top journals, while we document no bias for the most cited studies and the most cited authors.

Object Details

• Language: Deutsch

References and Relationships

• Bibliographic citation: Series: IOS Working Papers ; No. 314

Classification and Topics

• Classification: Wirtschaft ; Price Level; Inflation; Deflation ; Monetary Policy ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
• Subject: inflation ; New Keynesian Phillips curve ; meta-analysis ; publication bias ; New-Keynesian Phillips Curve ; Meta-Analyse

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Danišková, Katarína ; Fidrmuc, Jarko
• Event: Veröffentlichung
• (who): Institut für Ost- und Südosteuropaforschung (IOS)
• (where): Regensburg
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/79234
• URN: urn:nbn:de:101:1-201207106438
• Last update: 10.03.2025, 11:45 AM CET