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Monetary Policy and Unemployment

In: Handbook of Monetary Economics

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  • Galí, Jordi

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. This chapter describes some of the essential ingredients and properties of those models, and their implications for monetary policy.

Suggested Citation

  • Galí, Jordi, 2010. "Monetary Policy and Unemployment," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 10, pages 487-546, Elsevier.
  • Handle: RePEc:eee:monchp:3-10
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    More about this item

    Keywords

    Nominal Rigidities; Labor Market Frictions; Wage Rigidities;
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    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General

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