Title: Notes on the inflation dynamics of the  new Keynesian Phillips curve
Description: "These notes contain the derivations for results stated without proof in Hornstein  (2007). First, I derive the log-linear approximation of the inflation dynamics in the  Calvo-model with elements of backward-looking pricing when the approximation takes  place around a positive average inflation rate. I derive a version of the "hybrid" New  Keynesian Phillips Curve (NKPC) that can be estimated using standard GMM techniques.  Second, I characterize the inflation dynamics implied by the NKPC when  marginal cost follows an AR(1) process. For this purpose I derive the autocorrelation  and crosscorrelation structure of inflation."--Federal Reserve Bank of Richmond web site.