This book aims to systematically develop a general equilibrium macroeconomic model for both closed and open economies. In the seventh edition, Chapter 8 (The Standard Model of Neo-Keynesian Macroeconomics) has been revised and expanded to include a section on the neo-Keynesian IS-LM model

We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a macromodel where banks choose their capital structure and are subject to runs. Under a Taylor rule, the post-crisis interest rate hits the zero lower bound (ZLB) and remains there for several...

We study alternative scenarios for exiting the post-crisis fiscal and monetary accommodation using a macromodel where banks choose their capital structure and are subject to runs. Under a Taylor rule, the post-crisis interest rate hits the zero lower bound (ZLB) and remains there for several...

The analysis of monetary and fiscal policy belongs to the central issues in macroeconomics. This thesis provides new insights concerning current monetary and fiscal policy issues by accounting for the role of housing. Recent studies focusing on the interplay of housing and the macroeconomy have...