Advanced Search
MyIDEAS: Login to save this article or follow this journal

Il nuovo modello di sintesi neoclassica e il meccanismo di trasmissione della politica monetaria

Contents:

Author Info

  • Giorgio PIZZUTTO

    (Dipartimento di Politica Economica e Aziendale - Università Statale di Milano)

Registered author(s):

    Abstract

    The new neoclassical synthesis combines ideas of Keynesian and classical economics. It involves the application of intertemporal optimization and rational expectations. These are applied to the analysis of pricing and output decisions in a Keynesian context as well to the consumption, investment and labor supply decisions proper of real business cycle models. Moreover the model supposes an endogenous monetary rule linking nominal rate of interest to inflation and output targets. In this paper we survey this new macroeconomic model and evaluate how money affect output and employment once that the instrument of monetary policy is the interest rate instead of quantity of money. Then we explain why the new synthesis cannot account for the persistent effect of monetary policy and the business cycle asymmetry.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://riss.vitaepensiero.it/scheda-articolo_digital/giorgio-pizzutto/il-nuovo-modello-di-sintesi-neoclassica-e-il-meccanismo-di-trasmissione-della-politica-monetaria-000518_2004_0002_0079-150790.html
    Download Restriction: Yes

    Bibliographic Info

    Article provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.

    Volume (Year): 112 (2004)
    Issue (Month): 2 ()
    Pages: 195-227

    as in new window
    Handle: RePEc:vep:journl:y:2004:v:112:i:2:p:195-227

    Contact details of provider:

    Related research

    Keywords: new neoclassical synthesis; endogenous monetary policy; output persistence.;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:vep:journl:y:2004:v:112:i:2:p:195-227. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vep - Vita e Pensiero).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.