Standard theory of consumer behavior stands on the maxim of utility maximization.
Optimizing behavior of consumer is achieved by maximization of utility subject to budget …

This study tests empirical consistency of the NKPC for its standard and hybrid versions over
the period 1972 to 2012. Empirical findings of the standard NKPC show that both expected …

This paper presents estimates of the New Keynesian Phillips Curve (NKPC) for the
agriculture, manufacturing and services sectors of Pakistan's economy. The real marginal …

The study has tested the empirical validity of the open economy New Keynesian Phillips
curve (NKPC) model with Pakistan's data over the period 1972 to 2012. The estimates of the …

The financial crisis of 2007/2008 sparked a wave of criticism of economic theory. These
assaults are based on four basic criticisms: economists failed to predict the worst financial …

Phillips (1958) investigated the link between rates of pay and unemployment in the Us and
discovered as when labor demand is strong; workers negotiate for larger nominal wages …

The purpose of the thesis is to introduce novel measure of real marginal cost in the New
Keynesian Phillips Curve (NKPC) and compares its performance with conventional mea …