RDP 2013-11: Issues in Estimating New-Keynesian Phillips Curves in the Presence of Unknown Structural Change Equation

π t =c+α π t1 +δ E t π t+1 +δ x t + ε 1t MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbiqaaWOfqaaaaaaaaaWdbiabec8aWnaaBaaaleaacaWG0baabeaakiabg2da9iaadogacqGHRaWkcqaHXoqycqaHapaCdaWgaaWcbaGaamiDaiabgkHiTiaaigdaaeqaaOGaey4kaSIaeqiTdq2efv3ySLgznfgDOjdaryqr1ngBPrginfgDObcv39gaiuaacqWFecFrdaWgaaWcbaGaamiDaaqabaGccqaHapaCdaWgaaWcbaGaamiDaiabgUcaRiaaigdaaeqaaOGaey4kaSIaeqiTdqMaamiEamaaBaaaleaacaWG0baabeaakiabgUcaRiabew7aLnaaBaaaleaacaaIXaGaamiDaaqabaaaaa@5FE4@