knowledge of the relationship between two phenomena (inflation and unemployment) is crucial to any economic and political decision-making process. an investigation of this relationship helps economists and policy-makers to be aware of the economy’s performance. in the present research, new-keynesians’ philips hybrid curve has been derived by using the pricing models and the assumption of price ...

We use the inflation premium—the difference between nominal and real interest rates—as a proxy for expected inflation in the context of the New Keynesian Phillips Curve. Using data from inflation-indexed and nominal bonds we estimate a forward-looking Phillips curve for the United Kingdom over the period 1985-2004. The proposed model describes UK inflation dynamics considerably better than does...

We use the inflation premium—the difference between nominal and real interest rates—as a proxy for expected inflation in the context of the New Keynesian Phillips Curve. Using data from inflation-indexed and nominal bonds we estimate a forward-looking Phillips curve for the United Kingdom over the period 1985-2004. The proposed model describes UK inflation dynamics considerably better than does...