Avşar, Rojhat Berdan; Gür, Timur Han - In: Journal of economic cooperation among Islamic countries 25 (2004) 4, pp. 89-104
The new Keynesian microfoundations provide a new perspective in understanding inflation output trade-off or policy effectiveness phenomena. Roughly speaking, the New Keynesian theory can be described as an attempt to re-formulate the familiar Phillips Curve on the basis of new microfoundations....
