The State of New Keynesian Economics: A Partial Assessment

31 Pages Posted: 1 Aug 2018

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: July 2018

Abstract

I provide an overview of recent developments in monetary economics, with an emphasis on extensions of the New Keynesian framework that assume a zero lower bound on the short term nominal rate, as well as models with household heterogeneity.

Suggested Citation

Gali, Jordi, The State of New Keynesian Economics: A Partial Assessment (July 2018). NBER Working Paper No. w24845. Available at SSRN: https://ssrn.com/abstract=3218075

Jordi Gali (Contact Author)

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

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