Interest & Prices: Foundations of a Theory of Monetary Policy

By T. Nakajima. 2005

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Trend Inflation, Indexation, and Inflation Persistence in the New Keynesian Phillips Curve (2008, methodology): “trend inflation and the parameters of the pricing model α, , θ, and ω (their exact expressions are given in equation (49) of appendix A).”
Trade Integration, Competition, and the Decline in Exchange-Rate Pass-Through (2006, background): “5 We follow Woodford (2003) and define pricing decisions to be strategic complements if an increase in the prices charged for other goods increases a firm’s own optimal price.”
A Search for a Structural Phillips Curve (2005, methodology): “The model is overidentied, with 3 free parameters to t 45 elements in F ( ) : To test the overidentifying restrictions, we compute a J-statistic, J = F b ; tjT ; AtjT 0 V ar (F) (1)F b ; tjT ; AtjT ; (44) where b = hb ;b%;b i represent the best-tting values corresponding to the posterior mean est”
Central banks and financial crises (2008, background): “…equals the utility function of the representative household) and of the New-Keynesian Phillips curve in the simple sticky-price Woodford-Calvo model, when the potential level of output (minus the natural rate of unemployment), ̂y , is efficient (see Calvo (1983), Woodford (2003) and Buiter (2004)).”