New Keynesian Economics through the Extensive Margin

This paper reformulates the New Keynesian model to incorporate output adjustments through the extensive margin. Shifting from adjustments through the intensive to the extensive employment margin, the model introduces predetermined output, altering key properties of the New Keynesian framework. First...

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Veröffentlicht in:	NBER Working Paper Series 2025-01
Hauptverfasser:	Bigio, Saki, Ishide, Akira
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic Fluctuations and Growth Monetary Economics
Online-Zugang:	Volltext
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