This paper presents CESAM, a macroeconometric model of the Dutch economy based on annual data. CESAM can be characterized as a Keynesian expenditure model including a neoclassical production model and a post-KeynesianJinancial model. This characterization holds for most of the Dutch macroeconometric models including, for instance, FREIA-KOMPAS of the Dutch Central Planning Bureau. There are, ho...

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...

The label “Keynes-Negishi equilibria” is attached here to equilibria in a monetary economy with imperfectly competitive product and labor markets where business firms and labor unions hold demand perceptions with kinks as posited in Negishi’s 1979 book Microeconomic Foundations of Keynesian Macroeconomics. Such equilibria are defined in a general equilibrium model, and shown to exist. Methodolo...