Monetary Policy and Unemployment

93 Pages Posted: 12 Apr 2010

See all articles by Jordi Galí

Jordi Galí

Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI); Massachusetts Institute of Technology (MIT) - Department of Economics; Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)

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Date Written: April 2010

Abstract

Much recent research has focused on the development and analysis of extensions of the New Keynesian framework that model labor market frictions and unemployment explicitly. The present paper describes some of the essential ingredients and properties of those models, and their implications for monetary policy.

Keywords: labor market frictions, nominal rigidities, wage rigidities

JEL Classification: E32, E52

Suggested Citation

Gali, Jordi, Monetary Policy and Unemployment (April 2010). CEPR Discussion Paper No. DP7771, Available at SSRN: https://ssrn.com/abstract=1586252

Jordi Gali (Contact Author)

Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) ( email )

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HOME PAGE: http://www.econ.upf.es/~gali

Massachusetts Institute of Technology (MIT) - Department of Economics ( email )

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Centre for Economic Policy Research (CEPR)

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National Bureau of Economic Research (NBER)

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