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Journal of Quantitative Economics

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03-10-2016 | Original Article

Is the Hybrid New Keynesian Phillips Curve Stable? Evidence from Some Emerging Economies

Authors: Kushal Banik Chowdhury, Nityananda Sarkar

Published in: Journal of Quantitative Economics | Issue 3/2017

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Abstract

This paper primarily examines whether the ‘hybrid new Keynesian Phillips curve’ (HNKPC) holds for four important emerging economics viz., Brazil, Russia, India and South Africa. This has been done after testing for the structural stability of this relationship. Econometric issues like the test of unit roots in presence of a structural break and estimation of output gap have also been done appropriately. Our findings suggest that the HNKPC is not stable for all the four countries. However, the analysis based on the two sub-periods thus formed clearly shows mixed evidence in respect of holding of this relationship.

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Title: Is the Hybrid New Keynesian Phillips Curve Stable? Evidence from Some Emerging Economies
Authors: Kushal Banik Chowdhury
Nityananda Sarkar
Publication date: 03-10-2016
Publisher: Springer India
Published in: Journal of Quantitative Economics / Issue 3/2017
Print ISSN: 0971-1554
Electronic ISSN: 2364-1045
DOI: https://doi.org/10.1007/s40953-016-0059-y

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