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Gomes, O. (2012). Thought experimentation and the Phillips curve. Research in Economics. 66 (1), 45-64
Export Reference (IEEE) 
O. M. Gomes,  "Thought experimentation and the Phillips curve", in Research in Economics, vol. 66, no. 1, pp. 45-64, 2012
Export BibTeX 
@article{gomes2012_1715940112342,
	author = "Gomes, O.",
	title = "Thought experimentation and the Phillips curve",
	journal = "Research in Economics",
	year = "2012",
	volume = "66",
	number = "1",
	doi = "10.1016/j.rie.2011.02.001",
	pages = "45-64",
	url = "http://www.sciencedirect.com/science/article/pii/S1090944311000093"
}
Export RIS 
TY  - JOUR
TI  - Thought experimentation and the Phillips curve
T2  - Research in Economics
VL  - 66
IS  - 1
AU  - Gomes, O.
PY  - 2012
SP  - 45-64
SN  - 1090-9443
DO  - 10.1016/j.rie.2011.02.001
UR  - http://www.sciencedirect.com/science/article/pii/S1090944311000093
AB  - This paper offers the rationale for presenting a particular type of Phillips curve and develops the dynamic behavior of an economy where such a Phillips curve relation is observed. The specific kind of relation that is explored has similarities with the sticky-information Phillips curve of the Mankiw–Reis framework. Nevertheless, it adds an important dimension: firms need to form expectations about current events on past time periods not because of infrequent optimal updating of information but because producers want to evaluate the possibility of taking advantage of information deficiencies on the consumers’ side. A positive probability of ‘fooling’ consumers with a price above the one imposed by market conditions re-shapes the dynamic relation between the inflation rate and the output gap.
ER  -