DP7771 Monetary Policy and Unemployment
|Publication Date:||April 2010|
|Keyword(s):||labor market frictions, nominal rigidities, wage rigidities|
|Programme Areas:||International Macroeconomics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=7771|
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.