Monetary Policy and the German Unemployment Problem in Macroeconomic Models: Theory and Evidence

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Jan Gottschalk

Monetary Policy and the German Unemployment Problem in Macroeconomic Models

Theory and Evidence

Jan Gottschalk

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English

Springer-Verlag Berlin and Heidelberg GmbH & Co. K
09 April 2011

Macroeconomics; Employment & unemployment

Series: Kieler Studien - Kiel Studies

Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeling techniques inspired by new classical economics and real business cycle theory. It also probes in which direction models may be extended from here. Empirically, the book uses different econometric techniques to investigate the relevance and implications of different macroeconomic theories for German data. A key question this book investigates is the role of demand and supply side conditions for the increase in the German unemployment rate. On a policy level, the book relates the implications of the different theories to the ongoing debate on the appropriate roles of demand and supply side policies for curing the German unemployment problem.

By: Jan Gottschalk
Imprint: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Country of Publication: Germany
Edition: 1st ed. Softcover of orig. ed. 2005
Volume: 334
Dimensions: Height: 235mm, Width: 155mm, Spine: 16mm
Weight: 480g
ISBN: 9783642065040
ISBN 10: 364206504X
Series: Kieler Studien - Kiel Studies
Pages: 288
Publication Date: 09 April 2011
Audience: College/higher education , Professional and scholarly , Further / Higher Education , Undergraduate
Format: Paperback
Publisher's Status: Active

Keynesian and Monetarist Views on the German Unemployment Problem.- The Rational Expectations Revolution.- Monetary Policy in the New Keynesian Model.- Introducing Nonlinearities into the New Keynesian Model.- Revisiting the Natural Rate Hypothesis.- Concluding Remarks.