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Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications - Couverture rigide

Galí, Jordi

 
9780691164786: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications
Couverture rigide
ISBN 10 : 0691164789 ISBN 13 : 9780691164786
Editeur : Princeton University Press, 2015

Synopsis

The classic introduction to the New Keynesian economic model

This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability-oriented strategies adopted by most central banks in the industrialized world.

Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including 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 effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment's significance for monetary policy.

  • The most up-to-date introduction to the New Keynesian framework available
  • A single benchmark model used throughout
  • New materials and exercises included
  • An ideal resource for graduate students, researchers, and market analysts

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

À propos de l'auteur

Jordi Galí is director and senior researcher at the Center for Research in International Economics (CREI). He is professor of economics at Pompeu Fabra University in Barcelona and research professor at the Barcelona Graduate School of Economics.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Princeton University Press
Date d'édition
2015
Langue
anglais
ISBN 10 
0691164789
ISBN 13 
9780691164786
Reliure
Relié
Numéro d'édition
2
Nombre de pages
296
Coordonnées du fabricant
Princeton University Press
https://press.princeton.edu/books

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