RDP 2015-04: The Sticky Information Phillips Curve: Evidence for Australia Appendix B: SIPC Estimates for 1980–1990

Christian Gillitzer

April 2015 – ISSN 1448-5109 (Online)

Table B1: Sticky Information Phillips Curve – 1980–1990
CPI inflation Underlying inflation
J = 4 J = 8 J = 4 J = 8
Constant: c 1.55
(0.43)		 0.94
(0.50)		   −0.10
(0.06)		 −0.09
(0.05)
[−11.70, 12.68] [−8.54, 9.41]   [−0.32, 0.07] [−0.41, 0.09]
Real rigidity: α −1.21
(1.01)		 −1.14
(0.84)		   0.00
(0.01)		 0.00
(0.01)
[−5.60, 1.56] [−4.79, 1.17]   [−0.03, 0.02] [−0.05, 0.03]
Information rigidity: λ 0.92
(0.06)		 0.91
(0.05)		   0.11
(0.19)		 0.12
(0.19)
[−0.06, 1.70] [−0.58, 1.61]   [−2.68, 1.62] [−3.50, 1.45]
Import prices: γ × 10 0.55
(0.08)		 0.48
(0.11)		   0.25
(0.09)		 0.25
(0.09)
[−0.42, 1.19] [−0.08, 0.13]   [−1.03, 0.74] [−1.01, 0.72]
Durbin-Watson 1.56 1.54   1.48 1.50
R2 0.32 0.31   0.37 0.38
Notes: Newey-West standard errors are reported in parentheses; bootstrap 95 per cent confidence intervals that account for uncertainty associated with estimation of the forecasts are reported in brackets