Zeuthen Lectures
A New Keynesian Perspective
Zeuthen Lectures
A New Keynesian Perspective
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.
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A new approach for introducing unemployment into the New Keynesian framework.
