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A. Estrella and J. Fuhrer, “Dynamic Inconsistincies: Counterfactual Implications of a Class of Rational Expectations Models,” The American Economic Review, Vol. 92, No. 4, 2002, pp. 1013-1028. doi:10.1257/00028280260344579

has been cited by the following article:

• TITLE: Estimating the New Keynesian Phillips Curve by Quantile Regression Method for Turkey

  AUTHORS: Çiğdem Boz

  KEYWORDS: Quantile Regression; New Keynesian Phillips Curve; Turkish Economy

  JOURNAL NAME: Modern Economy, Vol.4 No.9, September 11, 2013

  ABSTRACT: New Keynesian Phillips Curve based on nominal rigidities and rational expectations is a widely used structural model of inflation dynamics in the analysis of monetary policy. It postulates that current inflation is determined by expected inflation and by the real marginal costs. This study uses the Quantile Regression Method (QRM) to present the New Keynesian Phillips Curve (NKPC) estimation for Turkey instead of Generalized Method of Momentum (GMM). This method identifies differences in response of the inflation to changes in explanatory variables at various points of inflation.