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Monetary Policy and Unemployment

  • Jordi Galí

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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File URL: http://www.nber.org/papers/w15871.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 15871.

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Date of creation: Apr 2010
Publication status: published as “Monetary Policy and Unemployment,” in B. Friedman and M. Woodford ( eds.) Handbook of Monetary Economics , vol. 3A, Elsevier B.V., 2011, 487 - 546.
Handle: RePEc:nbr:nberwo:15871
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