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A New Keynesian model with technological change

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  • Inoue, Tomohiro
  • Tsuzuki, Eiji

Abstract

We develop a New Keynesian model incorporating technological change. The steady-state output analysis provides the conclusion that eliminating the output gap requires the rate of money growth to be equal to the rate of technological change.

Suggested Citation

  • Inoue, Tomohiro & Tsuzuki, Eiji, 2011. "A New Keynesian model with technological change," Economics Letters, Elsevier, vol. 110(3), pages 206-208, March.
    • Handle: RePEc:eee:ecolet:v:110:y:2011:i:3:p:206-208
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    References listed on IDEAS

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    1. Gerke, Rafael, 2001. "Nominal rigidities and the dynamic effects of a monetary shock," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 37702, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Gerke, Rafael, 2009. "Nominal rigidities and the dynamic effects of a monetary shock," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 77567, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
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    4. Olivier Blanchard & Jordi Galí, 2007. "Real Wage Rigidities and the New Keynesian Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 35-65, February.
    5. Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-984, November.
    6. Siegel, Jeremy J, 1983. "Technological Change and the Superneutrality of Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(3), pages 363-367, August.
    7. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-666, September.
    8. Rotemberg, Julio J, 1982. "Sticky Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1187-1211, December.
    9. Gerke, Rafael, 2001. "Nominal rigidities and the dynamic effects of a monetary shock," Darmstadt Discussion Papers in Economics 107, Darmstadt University of Technology, Department of Law and Economics.
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    Cited by:

    1. Hiona Balfoussia & Sophocles N. Brissimis & Manthos D. Delis, 2011. "The theoretical framework of monetary policy revisited," Working Papers 138, Bank of Greece.
    2. Shunsuke Shinagawa & Eiji Tsuzuki, 2019. "Policy Lag and Sustained Growth," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 5(3), pages 403-431, October.

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