University of Hertfordshire

By the same authors

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A rejoinder on the new Keynesian Phillips curve in the United States. / Gareth Thomas, David; Yin, Ya.

University of Hertfordshire, 2012. (UH Business School Working Papers).

Research output: Working paper

Harvard

Gareth Thomas, D & Yin, Y 2012 'A rejoinder on the new Keynesian Phillips curve in the United States' UH Business School Working Papers, University of Hertfordshire.

APA

Gareth Thomas, D., & Yin, Y. (2012). A rejoinder on the new Keynesian Phillips curve in the United States. (UH Business School Working Papers). University of Hertfordshire.

Vancouver

Gareth Thomas D, Yin Y. A rejoinder on the new Keynesian Phillips curve in the United States. University of Hertfordshire. 2012. (UH Business School Working Papers).

Author

Gareth Thomas, David ; Yin, Ya. / A rejoinder on the new Keynesian Phillips curve in the United States. University of Hertfordshire, 2012. (UH Business School Working Papers).

Bibtex

@techreport{d3ac5fffea6b4dc8b500128c51271756,
title = "A rejoinder on the new Keynesian Phillips curve in the United States",
abstract = "This paper examines the nexus between money, output and inflation in the United States during the period from 1974 to 2010. The theoretical framework is underpinned by a new Classical–Keynesian synthesis view of inflation, expectations and money growth with the incorporation of a number of neglected areas of contention. The empirical model is based on the error-correction representation of a VAR modelling system and estimated using quarterly time series data. The estimation results reveal full efficiency in private inflationary expectations formation as contained in the Livingston expectations series, although they support the proposition of non-neutrality of money in the long run. The policy implication is that the conduct of monetary policy should attempt to manage not only inflationary expectations but also incorporate the output outlook of private agents.",
author = "{Gareth Thomas}, David and Ya Yin",
year = "2012",
language = "English",
series = "UH Business School Working Papers",
publisher = "University of Hertfordshire",
type = "WorkingPaper",
institution = "University of Hertfordshire",

}

RIS

TY - UNPB

T1 - A rejoinder on the new Keynesian Phillips curve in the United States

AU - Gareth Thomas, David

AU - Yin, Ya

PY - 2012

Y1 - 2012

N2 - This paper examines the nexus between money, output and inflation in the United States during the period from 1974 to 2010. The theoretical framework is underpinned by a new Classical–Keynesian synthesis view of inflation, expectations and money growth with the incorporation of a number of neglected areas of contention. The empirical model is based on the error-correction representation of a VAR modelling system and estimated using quarterly time series data. The estimation results reveal full efficiency in private inflationary expectations formation as contained in the Livingston expectations series, although they support the proposition of non-neutrality of money in the long run. The policy implication is that the conduct of monetary policy should attempt to manage not only inflationary expectations but also incorporate the output outlook of private agents.

AB - This paper examines the nexus between money, output and inflation in the United States during the period from 1974 to 2010. The theoretical framework is underpinned by a new Classical–Keynesian synthesis view of inflation, expectations and money growth with the incorporation of a number of neglected areas of contention. The empirical model is based on the error-correction representation of a VAR modelling system and estimated using quarterly time series data. The estimation results reveal full efficiency in private inflationary expectations formation as contained in the Livingston expectations series, although they support the proposition of non-neutrality of money in the long run. The policy implication is that the conduct of monetary policy should attempt to manage not only inflationary expectations but also incorporate the output outlook of private agents.

M3 - Working paper

T3 - UH Business School Working Papers

BT - A rejoinder on the new Keynesian Phillips curve in the United States

PB - University of Hertfordshire

ER -