The New Keynesian Phillips Curve in Thailand Through Two Financial Crises
نویسندگان
چکیده
منابع مشابه
The New Keynesian Phillips Curve in Thailand through Two Financial Crises
This paper examines the New Keynesian Phillips curve (NKPC) in Thailand in the two decades from 1993 to 2014 marked by the two large crises of 1997 and 2008. This analysis is significant because expectations and economic growth in Thailand may have been influenced by incidents including coups and natural disasters. The findings are summarized as follows. First, the empirical analysis shows that...
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I n most industrialized economies inflation tends to be pro-cyclical; that is, inflation is high during times of high economic activity. When economic activity is measured by the unemployment rate this statistical relationship is known as the Phillips curve. The Phillips curve is sometimes viewed as a menu for monetary policymakers, that is, they can choose between high inflation and low unempl...
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The subject of this paper is the estimation of the Phillips curve in Thailand. The aim of the estimation is to ...t the Phillips curve as part of a small-scale, log-linearised structural model for the country, which is suitable to form the basis for a future simulation exercise to ...nd an optimum monetary policy rule. A linear form of the Phillips curve is estimated using ordinary least square...
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www.philadelphiafed.org to the financial instruments that help guard savings from being eroded by inflation.1 Also, households and firms often write contracts that are stated in dollar amounts (nominal terms). A worker may, for example, sign a contract to work over the upcoming year for a fixed dollar amount. If inflation turns out to be higher than what was expected at the time the contract wa...
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ژورنال
عنوان ژورنال: Asian Economic and Financial Review
سال: 2016
ISSN: 2305-2147,2222-6737
DOI: 10.18488/journal.aefr/2016.6.4/102.4.190.195