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...
| Những tác giả chính: | , , , |
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| Định dạng: | Journal article |
| Được phát hành: |
Taylor and Francis
2014
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