The State of New Keynesian Economics: A Partial Assessment

Jordi Galí
Working Paper 24845
DOI 10.3386/w24845
Issue Date

I provide an overview of recent developments in monetary economics, with an emphasis on extensions of the New Keynesian framework that assume a zero lower bound on the short term nominal rate, as well as models with household heterogeneity.

Published Versions

Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," Journal of Economic Perspectives, vol 32(3), pages 87-112. citation courtesy of

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Topics

Macroeconomics
Business Cycles
Monetary Policy

Programs

Economic Fluctuations and Growth
Monetary Economics

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