Monetary Policy, Inflation, and the Business Cycle
作者:Jordi Gali
分类:文学
ISBN:9780691133164
出版时间:2008-2-11
出版社:Princeton University Press
标签: 经济学 宏观经济学 macroeconomics
章节目录
Preface ix CHAPTER 1: Introduction 1 CHAPTER 2: A Classical Monetary Model 15 CHAPTER 3: The Basic New Keynesian Model 41 CHAPTER 4: Monetary Policy Design in the Basic New Keynesian Model 71 CHAPTER 5: Monetary Policy Tradeoffs: Discretion versus Commitment 95 CHAPTER 6: A Model with StickyWages and Prices 119 CHAPTER 7: Monetary Policy and the Open Economy 149 CHAPTER 8: Main Lessons and Some Extensions 185 Index 195
内容简介
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 Gal 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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