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NKPC
(redirected from New Keynesian Phillips Curve)

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AcronymDefinition
NKPCNew Keynesian Phillips Curve
NKPCNational Korean Presbyterian Council (now National Council of Korean Presbyterian Churches)


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Introduction The New Keynesian Phillips Curve (NKPC) is a key component of much recent theoretical work on inflation.
For instance, Genberg and Pauwels (2005) estimate a Hybrid New Keynesian Phillips curve (a specification of Phillips curve which includes inflation lag and expected future inflation) for Hong Kong.
The researchers also study the implications of endogenous variety for the New Keynesian Phillips curve and business cycle dynamics more generally, and document the effects of technology, deregulation, and monetary policy shocks, as well as the second moment properties of their model, by means of numerical examples.
 
 
 
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