Similar Search Results

Animal spirits, persistent unemployment and the belief function

Farmer, Roger E. A. - 2010

This paper presents a theory of the monetary transmission mechanism in an old-Keynesian model with multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model; the optimizing IS curve and the policy rule. It differs from the new-Keynesian model by...

Persistent link: https://www.econbiz.de/10008737779

What we don't know about the monetary transmission mechanism and why we don't know it

Beyer, Andreas; Farmer, Roger E. A. - In: Macroeconomic dynamics 12 (2008), pp. 60-74

Persistent link: https://www.econbiz.de/10003868062

Animal spirits, persistent unemployment and the belief function

Farmer, Roger E. A. - 2010

"This paper presents a theory of the monetary transmission mechanism in an old-Keynesian model with multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model; the optimizing IS curve and the policy rule. It differs from the new-Keynesian model by...