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Monetary Policy and Unemployment

  • Galí, Jordi

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.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7771.

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Date of creation: Apr 2010
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Handle: RePEc:cpr:ceprdp:7771
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