The study of New Keynesian economics, its foundational concepts, analytical frameworks, and case studies.
An explanation of nominal rigidity in New Keynesian economics, introduced by Guillermo Calvo, based on staggered price setting by firms.
Definition and meaning of dynamic stochastic general equilibrium (DSGE), a class of theoretical models used in macroeconomics.
An economic model where prices are fixed in the short run, allowing quantities to adjust faster than prices.
A model of nominal rigidity, or staggered prices, in New Keynesian economics.
