New tests of the New-Keynesian Phillips curve

By Jeremy B. Rudd, Karl Whelan. 2005

526 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/41292e960b43f400634db9dd81ff5fa3c3506c16

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In Economics and Econometrics

Citations in the corpus

Components (2008, unknown): “Furthermore the results in Rudd and Whelan (2005) lead them to conclude that '..forward-looking terms play a very limited role in explaining in ‡ation dynamics.”
The Slope of the Phillips Curve: Evidence from U.S. States (2020, background): “Sbordone (2002), Galı́, Gertler, and Lopez-Salido (2005), and Rudd and Whelan (2005) develop approaches to estimating the Phillips curve on aggregate data using versions of equation (4).”
Weak Instrument Robust Tests in GMM and the New Keynesian Phillips Curve (2009, methodology): “According to Galí and Gertler (1999), this can be interpreted as evidence of forward-looking behavior in price setting, though this interpretation is not uncontroversial (cf. Mavroeidis 2005 or Rudd and Whelan 2005).”
On the Indeterminacy of New-Keynesian Economics (2004, result): “This second experiment throws doubt on the arguments of Lindé [15] and Rudd and Whelan [23] who argue that backward looking Phillips curve perform better than forward looking Phillips curves at explaining data.”
Instability and Nonlinearity in the Euro-Area Phillips Curve (2012, unknown): “7 These shocks are included in the same way as the output 7Some studies, including Aguiar and Martins (2005) and Rudd and Whelan (2005), have used the imported goods deflator (in its deviations from overall inflation) as a proxy for supply side shocks.”
Empirical Evidence on Inflation Expectations in the New Keynesian Phillips Curve (2014, methodology): “Sbordone (2005) refines the estimation approach by interpreting it as minimum distance estimation and accounting for sampling uncertainty of the first-step estimated VAR (see also Kurmann, 2005).”
Has the Inflation Process Changed (2006, methodology): “This aspect of these models has been criticized by, inter alia , Ball (1994), Fuhrer and Moore (1995) and Rudd and Whelan (2001).”
Intrinsic and Inherited Inflation Persistence (2005, unknown): “18Using a somewhat different methodology, Rudd and Whelan (2005) develop estimates of γ that are often an order of magnitude smaller than this.”
The New Keynesian Phillips Curve: From Sticky Inflation to Sticky Prices (2008, background): “These changes of monetary policy in the early 2000s may affect the aggregate supply curve through the associated policy transmission mechanism, and hence induce a structural shift in the NKPC.”
A Quantitative Comparison of Sticky-Price and Sticky-Information Models of Price Setting (2006, background): “Finally, Rudd and Whelan (2005c) emphasize that detrended output enters reduced-form regressions for inflation with a highly-significant coefficient.”
The Phillips curve under state-dependent pricing (2007, background): “(9) Gaĺı et al (2003) present evidence for the robustness of the hybrid NKPC in response to criticisms by Rudd and Whelan (2002) and Linde (2003).”
Does Labor's Share Drive Inflation? (2005, result): “It is instructive to compare these results with the findings of Rudd and Whelan (2001), who estimate Equation (5) using an instrumental variables approach in which the realized present value of xt is related to a set of predetermined instruments.”