Graphical Analysis of the New Neoclassical Synthesis
21 Pages Posted: 22 Jan 2007
Date Written: September 17, 2006
Abstract
In this paper we present a graphical analysis framework for the new neoclassical synthesis, which can be used to explain and interpret the behavior of the new neoclassical model under shocks. We elaborate the role of expectations on output and inflation as well as the influence of the monetary authority.
JEL Classification: A2
Suggested Citation: Suggested Citation
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