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Monetary policy and unemployment

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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

  • Jordi Galí, 2009. "Monetary policy and unemployment," Economics Working Papers 1198, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2010.
    • Handle: RePEc:upf:upfgen:1198
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    More about this item

    Keywords

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

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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