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.
Автор: Layard, Richard Nickell, Stephen Название: Combatting unemployment ISBN: 0199609780 ISBN-13(EAN): 9780199609789 Издательство: Oxford Academ Рейтинг: Цена: 12989.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Shaping the views of scholars and policymakers on how to address unemployment, the contributions of Layard and Nickell have served to illuminate the policy discourse in Europe. The book includes their key writings on the subject together with a new essay on what should be done during recession.
Автор: Robert J. Gordon Название: Productivity Growth, Inflation, and Unemployment ISBN: 052153142X ISBN-13(EAN): 9780521531429 Издательство: Cambridge Academ Рейтинг: Цена: 14573.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The seventeen seminal essays by Robert J. Gordon collected here, including three previously unpublished works, offer views on the principal topics of macroeconomics - namely, growth, inflation, and unemployment. The author re-examines their salient points in a creative, accessible introduction that serves on its own as an introduction to modern macroeconomics.
Автор: Layard, Richard; Nickell, Stephen J. Название: Combatting Unemployment ISBN: 0198779933 ISBN-13(EAN): 9780198779933 Издательство: Oxford Academ Рейтинг: Цена: 4513.00 р. Наличие на складе: Поставка под заказ.
Описание: Shaping the views of scholars and policymakers on how to address unemployment, the contributions of Layard and Nickell have served to illuminate the policy discourse in Europe. The book includes their key writings on the subject together with a new essay on what should be done during recession.
Описание: Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years.
Автор: Malinvaud Название: Profitability and Unemployment ISBN: 0521067146 ISBN-13(EAN): 9780521067140 Издательство: Cambridge Academ Рейтинг: Цена: 4592.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book first published in 1980 examines profitability and unemployment.
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