A Markov-switching model of inflation: looking at the future during uncertain times
In this paper, we analyze the dynamic of inflation in Venezuela, during the last eighteen years, through a Markov-switching estimation of a New Keynesian Phillips curve. Estimation is carried out using the EM algorithm. The model´s estimates distinguish between a "normal or backward looking" regime...
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| Publicat a: | Análisis Económico |
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| Autors principals: | , |
| Format: | Artigo |
| Idioma: | Inglês |
| Publicat: |
Universidad Autónoma Metropolitana
2010
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| Matèries: | |
| Accés en línia: | https://www.redalyc.org/articulo.oa?id=41315994005 |
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