Bofinger, Peter; Mayer, Eric; Wollmershäuser, Timo - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 2003
Over the last decade a new consensus model has emerged in monetary macroeconomics, labelled New Keynesian macroeconomics (Clarida et al., 1999). It consists of three simple building blocs: a forward-looking IS-equation that is derived from the optimization problem of a representative household,...
