文章基本信息

标题：The New Keynesian Phillips Curve in an Inflation Targeting Country: The Case of Turkey
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作者：Giray Gozgor
期刊名称：International Journal of Economic Sciences and Applied Research
印刷版ISSN：1791-5120
电子版ISSN：1791-3373
出版年度：2013
卷号：6
期号：1
页码：7-18
出版社：Kavala Institute of Technology
摘要：The possible short-run trade-off between the in.ation (gap) and the output (gap) remains a critical policy issue for any emerging economy; particularly when an implicit or an explicit in.ation targeting monetary policy is considered. The New Keynesian Phillips Curve (NKPC) has recently set up a framework on the trade-off between the in.ation (gap) and the difference between the actual output and potential (efficient) output under the assumption of real wage rigidities. In this paper, we estimate the NKPC based on this framework for the Turkish economy over a period of implicit and explicit in.ation targeting monetary policy. The results from Generalized Methods of Moments (GMM) estimation suggest that empirical findings are consistent with the theoretical background and the parameter restrictions are satisfied
关键词：New Keynesian Phillips Curve; Real Wage Rigidity; Short-run Trade-off; Turkey; ;Developing Economies