Keynesian Economics without the Phillips Curve
收藏NBER2017-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23837
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资源简介：
We extend Farmer's (2012b) Monetary (FM) Model in three ways. First, we derive an analog of the Taylor Principle and we show that it fails in U.S. data. Second, we use the fact that the model displays dynamic indeterminacy to explain the real effects of nominal shocks. Third, we use the fact the
提供机构：
美国国家经济研究局
创建时间：
2017-09-01
