Identifying the new Keynesian Phillips c
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James M. Nason; Gregor W. Smith
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Article
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2008
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John Wiley and Sons
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English
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## Abstract Phillips curves are central to discussions of inflation dynamics and monetary policy. The hybrid new Keynesian Phillips curve (NKPC) describes how past inflation, expected future inflation, and a measure of real aggregate demand drive the current inflation rate. This paper studies the (