The asymmetry of the New Keynesian Phillips Curve in the euro-area
Abstract
Using a two-stage quantile regression framework, we uncover significant asymmetries across quantiles for all coefficients in an otherwise standard New Keynesian Phillips Curve (NKPC) for the euro area. A pure NKPC specification accurately captures inflation dynamics at high inflation quantiles.Version
No full-text in the repositoryCitation
Chortareas, G., Magkonis, George, Panagiotidis, Theodore (2012) The asymmetry of the New Keynesian Phillips Curve in the euro-area. Economics Letters, 114 (2), 161-163.Link to Version of Record
https://doi.org/10.1016/j.econlet.2011.09.035Type
Articleae974a485f413a2113503eed53cd6c53
https://doi.org/10.1016/j.econlet.2011.09.035