Department of Economics and Business - Universitat Pompeu Fabra

Title:: Monetary policy and unemployment
Author:: Jordi Galí
Date:: October 2009 (Revised: February 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:: Nominal rigidities, labor market frictions, wage rigidities.
JEL codes:: E32
Area of Research:: Macroeconomics and International Economics

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