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Monetary policy --- Inflation (finance) --- Business cycles --- Keynesian economics --- AA / International- internationaal --- 333.846.0 --- 305.7 --- 330.3 --- Inflation (Finance) --- 338.2 --- 330 KEYNES, JOHN MAYNARD --- 339.53 --- Post-Keynesian economics --- Schools of economics --- Economic cycles --- Economic fluctuations --- Cycles --- Financial crises --- Finance --- Natural rate of unemployment --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- Econometrie van het gedrag van de financiële tussenpersonen. Monetaire econometrische modellen. Monetaire agregaten. vraag voor geld. Krediet. Rente. --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics. --- Economisch beleid. Economische politiek. Geleide economie. Plan --"tijd" --- Theoretische economie. Economische theorie. Economische analyse--KEYNES, JOHN MAYNARD --- Business cycles. --- Keynesian economics. --- Monetary policy. --- 330 KEYNES, JOHN MAYNARD Theoretische economie. Economische theorie. Economische analyse--KEYNES, JOHN MAYNARD --- 338.2 Economisch beleid. Economische politiek. Geleide economie. Plan --"tijd" --- Inflation (Finance). --- Econometrie van het gedrag van de financiële tussenpersonen. Monetaire econometrische modellen. Monetaire agregaten. vraag voor geld. Krediet. Rente --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden

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A new approach for introducing unemployment into the New Keynesian framework.The past fifteen years have witnessed the rise of the New Keynesian model as a framework of reference for the analysis of fluctuations and stabilization policies. That framework, which combines the rigor and internal consistency of dynamic general equilibrium models with such typically Keynesian assumptions as monopolistic competition and nominal rigidities, makes possible a meaningful, welfare-based analysis of the effects of monetary policy rules. But the conspicuous absence of unemployment from the standard New Keynesian model has given rise to both criticism and attempts to rectify this anomaly. In this book, Jordi Gali, one of the major contributors to the New Keynesian literature, offers a new approach to introducing unemployment into that framework. Gali's approach involves a reinterpretation of the labor market in the standard New Keynesian model with staggered wage setting (rather than a modification or extension of the model, as has been proposed by others). The resulting framework preserves the convenience of the representative household paradigm and allows one to determine the equilibrium levels of employment, the labor force, and hence the unemployment rate conditional on the monetary policy in place. Gali develops the basic model, embedding it in a standard New Keynesian framework with staggered price and wage setting; revisits the relationship between economic fluctuations and efficiency through the lens of the new model, developing a measure of the output gap; and analyzes the relation between unemployment and the design of monetary policy.

Unemployment --- -Monetary policy --- Keynesian economics --- AA / International- internationaal --- 331.05 --- 331.31 --- 332.630 --- 333.846.4 --- 339.53 --- Post-Keynesian economics --- Schools of economics --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Joblessness --- Employment (Economic theory) --- Full employment policies --- Labor supply --- Manpower policy --- Right to labor --- Underemployment --- Government policy --- Econometrische analyse van de economische bewegingen en cycli. --- Economisch beleid. --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid. --- Verband tussen de geld-, bank- en kredietpolitiek en de productie en werkgelegenheid. --- Keynesian economics. --- Monetary policy. --- Unemployment. --- Government policy. --- Monetary policy --- E-books --- Econometrische analyse van de economische bewegingen en cycli --- Economisch beleid --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid --- Verband tussen de geld-, bank- en kredietpolitiek en de productie en werkgelegenheid --- ECONOMICS/Macroeconomics --- ECONOMICS/Labor Studies

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