Statements (52)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
macroeconomic theory
|
| gptkbp:alsoKnownAs |
NNS
|
| gptkbp:combines |
gptkb:Real_Business_Cycle_theory
gptkb:New_Keynesian_economics |
| gptkbp:contrastsWith |
Classical macroeconomics
Old Keynesian economics |
| gptkbp:discipline |
economics
|
| gptkbp:emergedIn |
1990s
|
| gptkbp:focusesOn |
gptkb:economic_policy
inflation targeting output stabilization |
| gptkbp:hasComponent |
imperfect competition
capital accumulation dynamic optimization rational expectations output gap market clearing in the long run inflation targeting price stickiness wage rigidity monetary policy transmission mechanism productivity shocks expectations formation labor market frictions microfoundations of macroeconomics aggregate demand shocks aggregate supply shocks long-run neutrality of money policy credibility short-run non-neutrality of money |
| gptkbp:hasConcept |
gptkb:Taylor_rule
gptkb:Phillips_curve sticky prices intertemporal optimization |
| https://www.w3.org/2000/01/rdf-schema#label |
New Neoclassical Synthesis
|
| gptkbp:influencedBy |
gptkb:Dynamic_Stochastic_General_Equilibrium_models
rational expectations nominal rigidities microfoundations |
| gptkbp:keyFigure |
gptkb:Michael_Woodford
gptkb:Olivier_Blanchard gptkb:John_B._Taylor gptkb:Gregory_Mankiw |
| gptkbp:relatedTo |
gptkb:DSGE_models
monetary policy rules New Keynesian Phillips Curve |
| gptkbp:usedBy |
gptkb:Federal_Reserve
gptkb:European_Central_Bank |
| gptkbp:usedIn |
central bank policy models
|
| gptkbp:bfsParent |
gptkb:'The_New_Neoclassical_Synthesis_and_the_Role_of_Monetary_Policy'_by_Goodfriend_and_King_(1997)
gptkb:Real_Business_Cycle_Theory |
| gptkbp:bfsLayer |
7
|