Monetary Policy and the German Unemployment Problem in Macroeconomic Models Theory and Evidence /

• Main Author: Gottschalk, Jan (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2005.
• Series: Kieler Studien - Kiel Studies, 334
• Subjects: Macroeconomics.; Labor economics.; Economics.; Macroeconomics/Monetary Economics//Financial Economics.; Labor Economics.

Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeli...

Table of Contents:

• Keynesian and Monetarist Views on the German Unemployment Problem
• The Rational Expectations Revolution
• Monetary Policy in the New Keynesian Model
• Introducing Nonlinearities into the New Keynesian Model
• Revisiting the Natural Rate Hypothesis
• Concluding Remarks.