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The new Keynesian Phillips Curve. Implications. Strengths and weaknesses

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  • Rareș-Petru MIHALACHE

    (The University of Manchester, The United Kingdom)

  • Dumitru Alexandru BODISLAV

    (Bucharest University of Economic Studies, Romania)

Abstract

The present paper explores the first Dynamic Stochastic General Equilibrium New Keynesian Model and it seeks to emphasize the main advantages and disadvantages involved by the NKPC. Firstly, we start the analysis by discussing briefly about the history of the Phillips Curve and then we try to stress the most important aspects regarding the standard and the hybrid New Keynesian Phillips Curves. Secondly, our goal is to provide an insight about this topic which can represent the starting point for further analysis. Moreover, a special section is included which emphasizes the evidence referred to the NKPC and the hybrid NKPC.

Suggested Citation

  • Rareș-Petru MIHALACHE & Dumitru Alexandru BODISLAV, 2019. "The new Keynesian Phillips Curve. Implications. Strengths and weaknesses," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(621), W), pages 85-92, Winter.
    • Handle: RePEc:agr:journl:v:xxvi:y:2019:i:4(621):p:85-92
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    References listed on IDEAS

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