New Keynesian economics
New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics. It developed partly as a response to criticisms of Keynesi...
Ricardo Reis
Ricardo A. M. R. Reis (born September 1, 1978) is a Portuguese economist at Columbia University in New York City. He became a full professor at the age of 29, one of the youngest ever in the history o...
Dynamic stochastic general equilibrium
Dynamic stochastic general equilibrium modeling (abbreviated DSGE or sometimes SDGE or DGE) is a branch of applied general equilibrium theory that is influential in contemporary macroeconomics. The DS...
Diamond coconut model
The Diamond coconut model is an economic model constructed by the American economist and 2010 Nobel laureate Peter Diamond which analyzes how a search economy in which traders cannot find partners ins...
Diamond coconut model - Wikipedia
Real rigidity
In macroeconomics, rigidities are real prices and wages that fail to adjust to the level indicated by equilibrium or if something holds one price or wage fixed to a relative value of another. Real ri...
Insider-outsider theory of employment
In labor economics, the insider-outsider theory examines the behavior of economic agents in markets where some participants have more privileged positions than others. The theory was developed by Assa...
Menu cost
In economics, a menu cost is the cost to a firm resulting from changing its prices. The name stems from the cost of restaurants literally printing new menus, but economists use it to refer to the cos...
Menu cost - Wikipedia
Coordination failure (economics)
In economics, coordination failure is a concept that can explain recessions through the failure of firms and other price setters to coordinate. In an economic system with multiple equilibria, coordi...
Coordination failure (economics) - Wikipedia
Jason Furman
Jason Furman (born August 18, 1970) is an economist. On June 10, 2013, Furman was named by President Barack Obama as Chairman of the Council of Economic Advisers (CEA). Previously, since January 28, 2...
Jason Furman - Wikipedia
Julio Rotemberg
Julio J. Rotemberg is an Argentine/American economist at Harvard Business School. He is known for his collaboration with Michael Woodford on the first New Keynesian DSGE model, especially on monopolis...
Raj Chetty
Nadarajan "Raj" Chetty (born August 4, 1979) is an Indian American economist. He is the Bloomberg Professor of Economics at Harvard University, specializing in the field of public economics. Some of C...
Raj Chetty - Wikipedia
Kiyotaki–Moore model
The Kiyotaki–Moore model of credit cycles is an economic model developed by Nobuhiro Kiyotaki and John H. Moore that shows how small shocks to the economy might be amplified by credit restrictions, gi...
Credit rationing
Credit rationing refers to the situation where lenders limit the supply of additional credit to borrowers who demand funds, even if the latter are willing to pay higher interest rates. It is an examp...
Credit rationing - Wikipedia
Divine coincidence
In economics, divine coincidence refers to the property of New Keynesian models that there is no trade-off between the stabilization of inflation and the stabilization of the welfare-relevant output g...
Paul McCulley
Paul Allen McCulley (born March 13, 1957) is an American economist and former managing director at PIMCO. He coined the terms Minsky moment and Shadow banking system which became famous during the Fin...
Mauro Gallegati
Mauro Gallegati (born March 8, 1958) is an Italian New-keynesian economist, scholar of the Agent Based Econonomics and professor at Marche Polytechnic University in Ancona, Italy.
After having e...
Sticky (economics)
Nominal rigidity, also known as price-stickiness or wage-stickiness, describes a situation in which the nominal price is resistant to change. Complete nominal rigidity occurs when a price is fixed in...
Implicit contract theory
In economics, implicit contracts refer to voluntary and self-enforcing long term agreements made between two parties regarding the future exchange of goods or services. Implicit contracts theory was f...
Hysteresis (economics)
In economics, hysteresis refers to the possibility that periods of high unemployment tend to increase the rate of unemployment, below which inflation begins to accelerate, commonly referred to as the ...
Efficiency wage
In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, form in a way that is not market-clearing. Specifically, it points to the incentive for managers to pay ...
Efficiency wage - Wikipedia