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ZEPPELIN Chair of International Economics

Research Projects

Meta Analysis of the New Keynesian Phillips Curve

Project Description

The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward looking behavior. Reviewing about 200 studies, we analyse the weight of the forward-looking firms in hybrid New Keynesian Phillips Curve by means of meta regression. We show that data and method characteristics have significant impact on reported results. Moreover, we confirm a significant publication bias including publications in top journals, while no such bias is found for the most cited studies and the most cited authors


Project Duration

since 01.05.2011

Project Head

Prof. Dr. Jarko Fidrmuc

Project Execution


eigenfinanziertes Forschungsprojekt