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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:A Sticky Information Phillips Curve for South Africa
Authors:Reid, MoniqueISNI
du Rand, Gideon
Year:2015
Periodical:South African Journal of Economics (ISSN 0038-2280)
Volume:83
Issue:4
Pages:506-526
Language:English
Geographic term:South Africa
Subjects:inflation
unemployment
economic models
External link:https://doi.org/10.1111/saje.12066
Abstract:Mankiw and Reis propose the Sticky Information Phillips Curve (SIPC) as an alternative to the standard New Keynesian Phillips Curve to address empirical shortcomings in the latter. A SIPC for South Africa is estimated, and the authors find estimates of information updating probability between 0.69 and 0.81, somewhat higher than suggested by methods using micro-evidence. Because the estimation requires data on expectations of current period inflation and output gap conditional on sequences of earlier period information sets, they provide a detailed analysis of the impact on our estimates of alternative proxies available in South Africa. Bibliogr., notes, ref., sum. [Journal abstract]
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