Macroeconomic fluctuations in a New Keynesian disequilibrium model

Macroeconomic fluctuations in a New Keynesian disequilibrium model

Abstract This study extends the current New Keynesian modeling framework by changing one crucial aspect: it replaces the general equilibrium assumption by the arguably more realistic assumption of macroeconomic disequilibrium. As a result, more complex and less smooth macroeconomic adjustment dynami...

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Bibliographic Details
Main Author: Bas van Aarle
Format: Article
Language:English
Published: SpringerOpen 2017-04-01
Series:Journal of Economic Structures
Subjects:
Disequilibrium analysis
New Keynesian model
Rationing
Macroeconomic policy
Online Access:http://link.springer.com/article/10.1186/s40008-017-0070-2

Internet

http://link.springer.com/article/10.1186/s40008-017-0070-2

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