RBA paper finds only weak support for sticky information Phillips curve
Curve does not seem to improve estimates significantly
A research discussion paper published yesterday by the Reserve Bank of Australia (RBA) presents first estimates of a sticky information Phillips curve (SIPC) for Australia, but finds its performance in estimating inflation is mixed at best.
The SIPC is designed as an improvement on the New Keynesian Phillips curve that is included in most dynamic stochastic general equilibrium models, author Christian Gillitzer explains in The sticky information Phillips curve: evidence for Australia. Firms
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