Richard Dennis
Abstract
This Economic Letter looks at the problems with the NKPC and discusses some alternatives that are increasingly being used to think about inflation and the monetary policy transmission mechanism.
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This Economic Letter looks at the problems with the NKPC and discusses some alternatives that are increasingly being used to think about inflation and the monetary policy transmission mechanism.
Key concepts: Phillips curve, Economics, Keynesian economics, New Keynesian economics, Econometrics, Monetary policy