New Perspectives on Monetary Policy, Inflation and the Business Cycle

Galí, Jordi
Authors registered in the RePEc Author Service: Jordi Galí

No 3210, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The present Paper provides an overview of recent developments in the analysis of monetary policy in the presence of nominal rigidities. The Paper emphasizes the existence of several dimensions in which the recent literature provides a new perspective on the linkages among monetary policy, inflation, and the business cycle. It is argued that the adoption of an explicitly optimizing, general equilibrium framework has not been superfluous; on the contrary, it has yielded many insights which, by their nature, could hardly have been obtained with earlier non-optimizing models.

Keywords: Nominal rigidities; Monetary policy; Phillips curve; Monetary policy rules (search for similar items in EconPapers)
JEL-codes: E42 E52 (search for similar items in EconPapers)
Date: 2002-02
New Economics Papers: this item is included in nep-dge
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (59)

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Working Paper: New Perspectives on Monetary Policy, Inflation, and the Business Cycle (2002)
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