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dc.contributor.authorGareth Thomas, David
dc.contributor.authorYin, Ya
dc.date.accessioned2012-11-12T12:00:10Z
dc.date.available2012-11-12T12:00:10Z
dc.date.issued2012
dc.identifier.citationGareth 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 .
dc.identifier.otherPURE: 1204310
dc.identifier.otherPURE UUID: d3ac5fff-ea6b-4dc8-b500-128c51271756
dc.identifier.otherORCID: /0000-0002-1389-9065/work/125259394
dc.identifier.urihttp://hdl.handle.net/2299/9146
dc.description.abstractThis 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.en
dc.format.extent25
dc.language.isoeng
dc.publisherUniversity of Hertfordshire
dc.relation.ispartofseriesUH Business School Working Papers
dc.titleA rejoinder on the new Keynesian Phillips curve in the United Statesen
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionSocial Sciences, Arts & Humanities Research Institute
dc.contributor.institutionDepartment of Accounting, Finance and Economics
dc.contributor.institutionFinance and Accounting Research Unit
dc.contributor.institutionCentre for Research on Management, Economy and Society
rioxxterms.versionVoR
rioxxterms.typeWorking paper
herts.preservation.rarelyaccessedtrue


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