Chapter 8 : New Keynesian Monetary Economics

  • Carl E. Walsh
  • Published 2009


In the 1970s, 1980s, and early 1990s, models used for monetary policy analysis combined the assumption of nominal rigidity with a simple structure that linked the quantity of money to aggregate spending. While the theoretical foundations of these models were weak, the approach proved remarkably useful in addressing a wide range of monetary policy topics.1… (More)


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@inproceedings{Walsh2009Chapter8, title={Chapter 8 : New Keynesian Monetary Economics}, author={Carl E. Walsh}, year={2009} }