TY - JOUR ID - 24674 TI - Hybrid New-Keynesian Phillips Curve: Evidence from Iran JO - Journal of Economic Research (Tahghighat- E- Eghtesadi) JA - JTE LA - en SN - 0039-8969 AU - Rahmani, Timor AU - Amiri, Hossein AD - Y1 - 2012 PY - 2012 VL - 47 IS - 1 SP - 91 EP - 112 KW - Calvo Model KW - GMM method KW - Hybrid New-Keynesian Phillips Curve KW - Inflation rate KW - Unemployment rate DO - 10.22059/jte.2012.24674 N2 - Knowledge of the relationship between two phenomena (inflation and unemployment) is crucial to any economic and political decision-making process. An investigation of this relationship helps economists and policy-makers to be aware of the economy’s performance. In the present research, New-Keynesians’ Philips hybrid curve has been derived by using the pricing models and the assumption of price and wage rigidity. Fridman- Phelps Philips curve and New-Keynesian Philips curve are special types of New-Keynesian Hybrid Philips curves. The model used for rigidity of prices and wages in this article is pricing model of calov. Then, we have estimated this curve for Iranian economy for the time 1975-2007 by using GMM method. The results indicate that the firms have both backward and forward looking considerations in setting their prices. JEL Classification: E24، E31 UR - https://jte.ut.ac.ir/article_24674.html L1 - https://jte.ut.ac.ir/article_24674_d42a671605823770e1c6187e83c22483.pdf ER -