International Evidence on a New Keynesian Theory of the Output-Inflation Trade-off
检验了Ball、Mankiw和Romer（1988）提出的新凯恩斯理论，即高平均通胀会降低产出对名义冲击的敏感度。基于43国数据，发现该效应在多数国家显著，支持了新凯恩斯观点。
This article provides empirical evidence on the validity of a theory of the output-inflation tradeoff. The theory, offered by Laurence Ball, N. Gregory Mankiw, and David Romer (1988), synthesizes recent work on menu costs and imperfect competition used to ground Keynesian theory in maximizing behavior. The present paper focuses on a key prediction, namely, that higher average inflation makes output less sensitive to nominal shocks. That proposition is tested using data for each of forty-three countries. Importantly, average inflation is found to have the predicted effect in a significant fraction of those countries, an outcome which supports the New Keynesian view. Copyright 1991 by Ohio State University Press.