{"id":"https://openalex.org/W4287370906","doi":"https://doi.org/10.48550/arxiv.2101.09543","title":"Inference on the New Keynesian Phillips Curve with Very Many Instrumental Variables","display_name":"Inference on the New Keynesian Phillips Curve with Very Many Instrumental Variables","publication_year":2021,"publication_date":"2021-01-23","ids":{"openalex":"https://openalex.org/W4287370906","doi":"https://doi.org/10.48550/arxiv.2101.09543","mag":"3122833896"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:arx:papers:2101.09543","doi":null,"is_oa":false,"landing_page_url":"http://arxiv.org/pdf/2101.09543","pdf_url":"http://arxiv.org/pdf/2101.09543","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":["arxiv","datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/2101.09543","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":null,"display_name":"Dov\u00ec, Max-Sebastian","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Dov\u00ec, Max-Sebastian","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9286999702453613,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9286999702453613,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10136","display_name":"Statistical Methods and Inference","score":0.02669999934732914,"subfield":{"id":"https://openalex.org/subfields/2613","display_name":"Statistics and Probability"},"field":{"id":"https://openalex.org/fields/26","display_name":"Mathematics"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10845","display_name":"Advanced Causal Inference Techniques","score":0.014499999582767487,"subfield":{"id":"https://openalex.org/subfields/2613","display_name":"Statistics and Probability"},"field":{"id":"https://openalex.org/fields/26","display_name":"Mathematics"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/new-keynesian-phillips-curve","display_name":"New Keynesian Phillips curve","score":0.9900000095367432},{"id":"https://openalex.org/keywords/weak-identification","display_name":"weak identification","score":0.8970000147819519},{"id":"https://openalex.org/keywords/post-selection-inference","display_name":"post-selection inference","score":0.8050000071525574},{"id":"https://openalex.org/keywords/correlated-data","display_name":"correlated data","score":0.675000011920929},{"id":"https://openalex.org/keywords/confidence-regions","display_name":"confidence regions","score":0.828000009059906},{"id":"https://openalex.org/keywords/selection-bias","display_name":"selection bias","score":0.33399999141693115}],"concepts":[{"id":"https://openalex.org/C2776214188","wikidata":"https://www.wikidata.org/wiki/Q408386","display_name":"Inference","level":2,"score":0.8627669811248779},{"id":"https://openalex.org/C162144332","wikidata":"https://www.wikidata.org/wiki/Q1665305","display_name":"Instrumental variable","level":2,"score":0.7014998197555542},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6652858853340149},{"id":"https://openalex.org/C10688316","wikidata":"https://www.wikidata.org/wiki/Q936174","display_name":"New Keynesian economics","level":3,"score":0.6552071571350098},{"id":"https://openalex.org/C2778774626","wikidata":"https://www.wikidata.org/wiki/Q220841","display_name":"Phillips curve","level":3,"score":0.6103135347366333},{"id":"https://openalex.org/C116834253","wikidata":"https://www.wikidata.org/wiki/Q2039217","display_name":"Identification (biology)","level":2,"score":0.5265921950340271},{"id":"https://openalex.org/C81917197","wikidata":"https://www.wikidata.org/wiki/Q628760","display_name":"Selection (genetic algorithm)","level":2,"score":0.49848508834838867},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4879152476787567},{"id":"https://openalex.org/C93959086","wikidata":"https://www.wikidata.org/wiki/Q6888345","display_name":"Model selection","level":2,"score":0.4464447498321533},{"id":"https://openalex.org/C2779793024","wikidata":"https://www.wikidata.org/wiki/Q17299941","display_name":"Indirect Inference","level":3,"score":0.4328072667121887},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.29103678464889526},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.26865988969802856},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.2591313123703003},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.24109655618667603},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.18128666281700134},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.10261967778205872},{"id":"https://openalex.org/C185429906","wikidata":"https://www.wikidata.org/wiki/Q1130160","display_name":"Estimator","level":2,"score":0.0},{"id":"https://openalex.org/C59822182","wikidata":"https://www.wikidata.org/wiki/Q441","display_name":"Botany","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:RePEc:arx:papers:2101.09543","doi":null,"is_oa":false,"landing_page_url":"http://arxiv.org/pdf/2101.09543","pdf_url":"http://arxiv.org/pdf/2101.09543","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:arXiv.org:2101.09543","doi":null,"is_oa":true,"landing_page_url":"http://arxiv.org/abs/2101.09543","pdf_url":"https://arxiv.org/pdf/2101.09543","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"mag:3122833896","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/pdf/2101.09543v2","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"arXiv (Cornell University)","raw_type":null},{"id":"mag:3145806570","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/arx/papers/2101.09543.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"doi:10.48550/arxiv.2101.09543","doi":"https://doi.org/10.48550/arxiv.2101.09543","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2101.09543","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Preprint"}],"best_oa_location":{"id":"pmh:oai:arXiv.org:2101.09543","doi":null,"is_oa":true,"landing_page_url":"http://arxiv.org/abs/2101.09543","pdf_url":"https://arxiv.org/pdf/2101.09543","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320320290","display_name":"University of Oxford","ror":"https://ror.org/052gg0110"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4287370906.pdf","grobid_xml":"https://content.openalex.org/works/W4287370906.grobid-xml"},"referenced_works_count":21,"referenced_works":["https://openalex.org/W1795528494","https://openalex.org/W1935999090","https://openalex.org/W2031466627","https://openalex.org/W2067427687","https://openalex.org/W2068019718","https://openalex.org/W2111094164","https://openalex.org/W2138545569","https://openalex.org/W2158179451","https://openalex.org/W2160536969","https://openalex.org/W2162094858","https://openalex.org/W2257263437","https://openalex.org/W2567119387","https://openalex.org/W2767639543","https://openalex.org/W2799195636","https://openalex.org/W3023906401","https://openalex.org/W3100837691","https://openalex.org/W3113009545","https://openalex.org/W3121936535","https://openalex.org/W3123935426","https://openalex.org/W4205207983","https://openalex.org/W4289548463"],"related_works":["https://openalex.org/W4408336569","https://openalex.org/W7116082533","https://openalex.org/W1495688730","https://openalex.org/W1595181974","https://openalex.org/W2088457412","https://openalex.org/W7064235655","https://openalex.org/W3123363159","https://openalex.org/W7096190937","https://openalex.org/W7095748127","https://openalex.org/W3122334859"],"abstract_inverted_index":{"Limited-information":[0],"inference":[1,75],"on":[2,76],"New":[3],"Keynesian":[4],"Phillips":[5],"Curves":[6],"(NKPCs)":[7],"and":[8,17,62,83],"other":[9],"single-equation":[10],"macroeconomic":[11],"relations":[12],"is":[13],"characterised":[14],"by":[15,33],"weak":[16,60],"high-dimensional":[18],"instrumental":[19],"variables":[20],"(IVs).":[21],"Beyond":[22],"the":[23,29,71],"efficiency":[24],"concerns":[25],"previously":[26],"raised":[27],"in":[28,44],"literature,":[30],"I":[31,47,86],"show":[32],"simulation":[34],"that":[35,53,67],"ad-hoc":[36],"selection":[37],"procedures":[38],"can":[39],"lead":[40],"to":[41],"substantial":[42],"biases":[43],"post-selection":[45],"inference.":[46],"propose":[48],"a":[49,63,77],"Sup":[50],"Score":[51],"test":[52],"remains":[54],"valid":[55],"under":[56],"dependent":[57],"data,":[58],"arbitrarily":[59],"identification,":[61],"number":[64],"of":[65],"IVs":[66,82],"increases":[68],"exponentially":[69],"with":[70,80],"sample":[72],"size.":[73],"Conducting":[74],"standard":[78],"NKPC":[79],"359":[81],"179":[84],"observations,":[85],"find":[87],"substantially":[88],"wider":[89],"confidence":[90],"sets":[91],"than":[92],"those":[93],"commonly":[94],"found.":[95]},"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2022-07-25T00:00:00"}