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Aggregate supply and potential output

AAggregate supply and potential output

Número de Cutter-SanbornR278aEntrada «Raz» → 278 · marca de obra “a”

Aggregate supply and potential output

de Assaf Razin · Publicada por primera vez en 2004

"The New-Keynesian aggregate supply derives from micro-foundations an inflation-dynamics model very much like the tradition in the monetary literature. Inflation is primarily affected by: (i) economic slack; (ii) expectations; (iii) supply shocks; and (iv) inflation persistence. This paper extends the New Keynesian aggregate supply relationship to include also fluctuations in potential output, as an additional determinant of the relationship. Implications for monetary rules and to the estimation of the Phillips curve are pointed out"--National Bureau of Economic Research web site.