Keynesian economics is a theory whose premise is that aggregate demand is a primary driver of the economy and employment. Keynesian economics is an economic theory, and the basic premise is that ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...

Which levels of interest rates along the yield curve are consistent with stable economic activity? We use expectations at the daily frequency reflected in financial market prices to extract the state ...

We develop a microfounded New Keynesian model to analyze monetary policy and financial stability issues in open economies with financial fragilities and weakly anchored inflation expectations. We show ...