"Three Essays on the New Keynesian Phillips Curve"

This PhD thesis is composed by three essays which tackle recent and controversial aspects of the New Keynesian Phillips curve subject. The first chapter presents a critical survey about the New Keynesian Phillips curve focusing on the so-called “divine coincidence” problem. The second chapter proposes an extension of the Blanchard and Galì New Keynesian Phillips curve and shows that this new formulation helps to explain inflation dynamics. The third chapter examines an extended version of the small-scale New Keynesian model a la Woodford (2003) to assess the role of oil price shocks in influencing inflation and unemployment volatility.