Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework by Jordi Gali - PDF free download eBook

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  • Published: Sep 18, 2015
  • Reviews: 368

Brief introduction:

The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development...

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Details of Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework

ISBN
9780691133164
Publication date
Age range
18+ Years
Book language
GB
Pages
224
Format
PDF, CHM, DOC, TXT
Quality
High quality scanned pages
Dimensions
6.30 (w) x 9.30 (h) x 0.90 (d)
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Some brief overview of this book

The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation stability-oriented strategies adopted by most central banks throughout the industrialized world. This graduate-level textbook provides an introduction to the New Keynesian framework and its applications to monetary policy.

Using a canonical version of the New Keynesian model as a reference framework, Jordi Galí explores issues pertaining to the design of monetary policy, including the determination of the 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 implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting policies.

The most up-to-date and accessible introduction to the New Keynesian framework available

Uses a single benchmark model throughout

Concise and easy to use

Includes exercises

An ideal resource for graduate students, researchers, and market analysts

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A few words about book author

Jordi Gali is director and senior researcher at the Center for Research in International Economics (CREI) and professor of economics at Universitat Pompeu Fabra in Barcelona.

ovides an introduction to the New Keynesian framework and its applications to monetary policy.

Using a canonical version of the New Keynesian model as a reference framework, Jordi Galí explores issues pertaining to the design of monetary policy, including the determination of the 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 implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting policies.

The most up-to-date and accessible introduction to the New Keynesian framework available

Uses a single benchmark model throughout

Concise and easy to use

Includes exercises

An ideal resource for graduate students, researchers, and market analysts

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