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A New Keynesian model with technological change

Author

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  • Inoue, Tomohiro
  • Tsuzuki, Eiji

Abstract

We develop a New Keynesian model incorporating technological change. The steady-state output analysis provides the conclusion that eliminating the output gap requires the rate of money growth to be equal to the rate of technological change.

Suggested Citation

  • Inoue, Tomohiro & Tsuzuki, Eiji, 2011. "A New Keynesian model with technological change," Economics Letters, Elsevier, vol. 110(3), pages 206-208, March.
  • Handle: RePEc:eee:ecolet:v:110:y:2011:i:3:p:206-208
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    References listed on IDEAS

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    1. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, pages 297-308.
    2. Olivier Blanchard & Jordi Galí, 2007. "Real Wage Rigidities and the New Keynesian Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 35-65, February.
    3. Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-984, November.
    4. Siegel, Jeremy J, 1983. "Technological Change and the Superneutrality of Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(3), pages 363-367, August.
    5. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-666, September.
    6. Rotemberg, Julio J, 1982. "Sticky Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1187-1211, December.
    7. Gerke, Rafael, 2001. "Nominal rigidities and the dynamic effects of a monetary shock," Darmstadt Discussion Papers in Economics 107, Darmstadt University of Technology, Department of Law and Economics.
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    Cited by:

    1. Hiona Balfoussia & Sophocles N. Brissimis & Manthos D. Delis, 2011. "The theoretical framework of monetary policy revisited," Working Papers 138, Bank of Greece.

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