[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/qua/journl/v5y2008i1p35-59.html
   My bibliography  Save this article

The role of relative prices in a generalized new Keynesian Phillips curve

Author

Listed:
  • Kolver Hernandez

    (CIDE A.C)

Abstract
Recent literature attributes a very large fraction of the inflation volatility to "cost-push shocks." This paper develops and estimates a microfounded DSGE model that features a first-order role for relative-price dynamics. A measure of relative price disalignments appears in the new Keynesian Phillips curve (NKPC) of the model, resembling a cost-push shock. Impulse response analysis suggests that an alternative interpretation to the effects of exogenous cost-push shocks in the NKPC relies on the endogenous response of relative prices to exogenous shocks that perturb them.

Suggested Citation

  • Kolver Hernandez, 2008. "The role of relative prices in a generalized new Keynesian Phillips curve," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 5(1), pages 35-59, Julio-Dic.
    • Handle: RePEc:qua:journl:v:5:y:2008:i:1:p:35-59
    as

    Download full text from publisher

    File URL: http://econoquantum.cucea.udg.mx/index.php/EQ/article/view/89
    Download Restriction: no
    File URL: http://econoquantum.cucea.udg.mx/index.php/EQ/issue/view/14
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Relative prices; inflation dynamics; output fluctuations.;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:qua:journl:v:5:y:2008:i:1:p:35-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sandra Ivett Portugal Padilla (email available below). General contact details of provider: https://edirc.repec.org/data/dmudgmx.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.