We review the main identification strategies and empirical evidence on the role of
expectations in the New Keynesian Phillips curve, paying particular attention to the issue of …

This paper presents a comprehensive review of the newly emerging literature on the New
Keynesian Phillips Curve (NKPC). The theoretical predictions, econometric estimation …

Purpose This study examines the impact of trade openness, human capital, public
expenditure and institutional performance on unemployment in various income groups of …

An apparent disconnect has taken place between inflation and economic activity in the pre-
COVID US economy, causing some to believe that the Phillips curve has flattened. We argue …

This paper introduces a new 'supply-push'instrument for foreign aid, to be used together with
an instrumental variable estimator that filters out unobserved common factors. We use this …

abstract This study explores the relationship between trade openness, public expenditure,
institutional performance, and unemployment in member countries of the Organization of …

In a broad class of sticky-price models, theory predicts that the kurtosis-to-frequency ratio of
price changes is a sufficient statistic for the cumulative impulse response of prices (CIRP) to …

The purpose of the paper is to revisit the inflation–output gap relationship using a new
approach known as the wavelet transform. This approach combines the classical time series …

In a broad class of sticky-price models, the non-neutrality of nominal shocks is captured by a
simple sufficient statistic: the ratio of the kurtosis of the price change distribution over the …

The structural transformation from manufacturing to services comes with a process of
services deepening: the services share of intermediate inputs rises over time. Moreover …