The Science of Monetary Policy¶
Clarida, Gali, & Gertler. (1999). The Science of Monetary Policy: A New Keynesian Perspective. Journal of Economic Literature.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- AD–AS Model
- . - Macroeconomic journalism and commentary — op-ed and policy writing invokes AD/AS shifts to explain inflation, unemployment, and growth episodes, such as framing the COVID-era supply disruption as a leftward short-run-AS shift. - Historical-episode analysis — the 1970s stagflation, 2008, and the pandemic are parsed into AS and AD components, using the four-quadrant typology to disentangle supply disruption from demand collapse or surge. - Theoretical bridge to research models — the New Keynesian three-equation form (Phillips curve, IS curve, Taylor rule) is itself an AD–AS-style decomposition into a demand block and a supply block
This sourceNew Keynesian account of monetary policy built on three equations - an IS curve, a Phillips curve relating inflation to the output gap, and a policy rule of Taylor-rule type.
Supported in partVerified against the work's full text
“a Phillips curve that relates in ation positively to the output gap.”
- . - Macroeconomic journalism and commentary — op-ed and policy writing invokes AD/AS shifts to explain inflation, unemployment, and growth episodes, such as framing the COVID-era supply disruption as a leftward short-run-AS shift. - Historical-episode analysis — the 1970s stagflation, 2008, and the pandemic are parsed into AS and AD components, using the four-quadrant typology to disentangle supply disruption from demand collapse or surge. - Theoretical bridge to research models — the New Keynesian three-equation form (Phillips curve, IS curve, Taylor rule) is itself an AD–AS-style decomposition into a demand block and a supply block
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