Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 김건호 | - |
dc.date.accessioned | 2018-06-08T00:36:32Z | - |
dc.date.available | 2018-06-08T00:36:32Z | - |
dc.date.issued | 2016-06 | - |
dc.identifier.citation | KDI Journal of Economic Policy, v. 38, NO 2, Page. 1-20 | en_US |
dc.identifier.issn | 2586-2995 | - |
dc.identifier.issn | 2586-4130 | - |
dc.identifier.uri | http://kdijep.org/v.38/2/1/Inference+and+Forecasting+Based+on+the+Phillips+Curve | - |
dc.identifier.uri | https://repository.hanyang.ac.kr/handle/20.500.11754/71930 | - |
dc.description.abstract | In this paper, we conduct uniform inference of two widely used versions of the Phillips curve, specifically the random-walk Phillips curve and the New-Keynesian Phillips curve (NKPC). For both specifications, we propose a potentially time-varying natural unemployment (NAIRU) to address the uncertainty surrounding the inflation-unemployment trade-off. The inference is conducted through the construction of what is known as the uniform confidence band (UCB). The proposed methodology is then applied to point-ahead inflation forecasting for the Korean economy. This paper finds that the forecasts can benefit from conducting UCB-based inference and that the inference results have important policy implications. | en_US |
dc.description.sponsorship | Kim gratefully acknowledges funding from the National Research Foundation of Korea Grant by the Korean Government (NRF-2015S1A5A8014208). | en_US |
dc.language.iso | en | en_US |
dc.publisher | 한국개발연구원 | en_US |
dc.subject | Time-varying NAIRU | en_US |
dc.subject | Random-walk Phillips curve | en_US |
dc.subject | New-Keynesian Phillips curve | en_US |
dc.subject | Uniform confidence band | en_US |
dc.subject | Model validation | en_US |
dc.subject | Inflation forecasting | en_US |
dc.title | Inference and Forecasting Based on the Phillips Curve | en_US |
dc.type | Article | en_US |
dc.relation.no | 2 | - |
dc.relation.volume | 38 | - |
dc.identifier.doi | https://doi.org/10.23895/kdijep.2016.38.2.1 | - |
dc.relation.page | 1-20 | - |
dc.relation.journal | 한국개발연구 | - |
dc.contributor.googleauthor | KIM, KUN HO | - |
dc.contributor.googleauthor | PARK, SUNA | - |
dc.relation.code | 2016018190 | - |
dc.sector.campus | S | - |
dc.sector.daehak | COLLEGE OF ECONOMICS AND FINANCE[S] | - |
dc.sector.department | DIVISION OF ECONOMICS & FINANCE | - |
dc.identifier.pid | kunhokim | - |
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