Misspecification Testing: Non-Invariance of Expectations Models of Inflation
Many economic models (such as the new-Keynesian Phillips curve, NKPC) include expected future values, often estimated after replacing the expected value by the actual future outcome, using Instrumental Variables (IV) or Generalized Method of Moments (GMM). Although crises, breaks, and regime shifts...
| প্রধান লেখক: | , , , |
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| বিন্যাস: | Journal article |
| প্রকাশিত: |
Taylor and Francis
2014
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