EconPapers    
Economics at your fingertips  
 

The 3-Equation New Keynesian Model: A Graphical Exposition

David Soskice and Wendy Carlin ()

No 4588, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We develop a graphical 3-equation New Keynesian model for macroeconomic analysis to replace the traditional IS-LM-AS model. The new graphical IS-PC-MR model is a simple version of the one commonly used in central banks and captures the forward-looking thinking engaged in by the policy-maker. We show how it can be modified to include a forward-looking IS curve and how it relates to current debates in monetary macroeconomics, including the New Keynesian Phillips Curve and the Sticky Information Phillips Curve models.

Keywords: A22 a23; New keynesian macroeconomics; Monetary policy rules; Taylor rules; New keynesian phillips curve; Sticky information phillips curve (search for similar items in EconPapers)
JEL-codes: E52 (search for similar items in EconPapers)
Date: 2004-09
New Economics Papers: this item is included in nep-hpe and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://cepr.org/publications/DP4588 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: The 3-Equation New Keynesian Model --- A Graphical Exposition (2005) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:4588

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP4588

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().

 
Page updated 2025-03-19
Handle: RePEc:cpr:ceprdp:4588