Aggregate supply and potential output
by Assaf Razin
"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.
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Aggregate supply and potential output
2004, National Bureau of Economic Research
Electronic resource
in English
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Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/25/2005.
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Mode of access: World Wide Web.
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