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Monetary Policy and Unemployment

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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. The present paper 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," CEPR Discussion Papers 7771, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:7771
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    More about this item

    Keywords

    labor market frictions; nominal rigidities; wage rigidities;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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