Monetary policy, inflation, and the business cycle

an introduction to the new Keynesian framework

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December 19, 2023 | History

Monetary policy, inflation, and the business cycle

an introduction to the new Keynesian framework

  • 0 Ratings
  • 4 Want to read
  • 0 Currently reading
  • 0 Have read

The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation stability-oriented strategies adopted by most central banks throughout the industrialized world. This graduate-level textbook provides an introduction to the New Keynesian framework and its applications to monetary policy.

Using a canonical version of the New Keynesian model as a reference framework, Jordi Gal� explores issues pertaining to the design of monetary policy, including the determination of the optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting policies.

The most up-to-date and accessible introduction to the New Keynesian framework available
Uses a single benchmark model throughout
Concise and easy to use
Includes exercises
An ideal resource for graduate students, researchers, and market analysts
--front flap

Publish Date
Language
English
Pages
203

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Previews available in: English

Edition Availability
Cover of: Monetary Policy, Inflation, and the Business Cycle
Cover of: Monetary Policy, Inflation, and the Business Cycle
Cover of: Monetary policy, inflation, and the business cycle
Cover of: Monetary Policy, Inflation, and the Business Cycle
Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework
2008, Princeton University Press
Hardcover in English
Cover of: Monetary Policy, Inflation, and the Business Cycle
Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework
March 6, 2008, Princeton University Press
Hardcover in English
Cover of: Monetary policy, inflation, and the business cycle
Cover of: New perspectives on monetary policy, inflation and the business cycle

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Book Details


Published in

Princeton, N.J

Table of Contents

Introduction
A classical monetary model
The basic new Keynesian model
Monetary policy design in the basic new Keynesian model
Monetary policy tradeoffs: discretion versus commitment
A model with sticky wages and prices
Monetary policy and the open economy
Main lessons and some extensions.

Edition Notes

Includes bibliographical references and index.

Classifications

Dewey Decimal Class
339.5/3
Library of Congress
HG230.3 .G35 2008

The Physical Object

Pagination
xi, 203 p. :
Number of pages
203

ID Numbers

Open Library
OL21830624M
Internet Archive
monetarypolicyin00gali
ISBN 10
0691133166
ISBN 13
9780691133164
LCCN
2007044381
Library Thing
4992629
Goodreads
2737788

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December 19, 2023 Edited by ImportBot import existing book
August 5, 2023 Edited by AgentSapphire Merge works
December 4, 2010 Edited by Open Library Bot Added subjects from MARC records.
December 10, 2009 Created by WorkBot add works page