Interest and Prices: Foundations of a Theory of Monetary Policy
E354932
Interest and Prices: Foundations of a Theory of Monetary Policy is a highly influential macroeconomics book that develops a rigorous New Keynesian framework for analyzing monetary policy and inflation dynamics.
All labels observed (2)
| Label | Occurrences |
|---|---|
| Interest and Prices: Foundations of a Theory of Monetary Policy canonical | 1 |
| The New Keynesian Approach to Monetary Policy | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T3394487 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Interest and Prices: Foundations of a Theory of Monetary Policy Context triple: [Michael Woodford, notableWork, Interest and Prices: Foundations of a Theory of Monetary Policy]
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A.
Rules, Discretion, and Reputation in a Model of Monetary Policy
"Rules, Discretion, and Reputation in a Model of Monetary Policy" is an influential economic paper that analyzes how different monetary policy regimes and the credibility of policymakers affect inflation and output outcomes.
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B.
Monetary Policy, Inflation, and the Business Cycle
"Monetary Policy, Inflation, and the Business Cycle" is a widely cited macroeconomics book that develops and applies New Keynesian models to analyze how monetary policy affects inflation dynamics and economic fluctuations.
-
C.
the "Volcker shock" in U.S. monetary policy
The "Volcker shock" in U.S. monetary policy refers to the dramatic interest rate hikes and tight monetary stance of the early 1980s aimed at breaking entrenched inflation, which triggered a deep recession but ultimately restored price stability and reshaped central banking practice.
-
D.
“Discretion versus Policy Rules in Practice”
“Discretion versus Policy Rules in Practice” is a highly influential economics paper by John B. Taylor that analyzes the performance of rule-based versus discretionary approaches to monetary policy, helping to popularize the Taylor rule framework.
-
E.
The New Keynesian Phillips Curve: Time Series Evidence from the Euro Area
"The New Keynesian Phillips Curve: Time Series Evidence from the Euro Area" is an influential empirical economics paper by Jordi Galí that tests and supports New Keynesian inflation dynamics using euro area data.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Interest and Prices: Foundations of a Theory of Monetary Policy Target entity description: Interest and Prices: Foundations of a Theory of Monetary Policy is a highly influential macroeconomics book that develops a rigorous New Keynesian framework for analyzing monetary policy and inflation dynamics.
-
A.
Rules, Discretion, and Reputation in a Model of Monetary Policy
"Rules, Discretion, and Reputation in a Model of Monetary Policy" is an influential economic paper that analyzes how different monetary policy regimes and the credibility of policymakers affect inflation and output outcomes.
-
B.
Monetary Policy, Inflation, and the Business Cycle
"Monetary Policy, Inflation, and the Business Cycle" is a widely cited macroeconomics book that develops and applies New Keynesian models to analyze how monetary policy affects inflation dynamics and economic fluctuations.
-
C.
the "Volcker shock" in U.S. monetary policy
The "Volcker shock" in U.S. monetary policy refers to the dramatic interest rate hikes and tight monetary stance of the early 1980s aimed at breaking entrenched inflation, which triggered a deep recession but ultimately restored price stability and reshaped central banking practice.
-
D.
“Discretion versus Policy Rules in Practice”
“Discretion versus Policy Rules in Practice” is a highly influential economics paper by John B. Taylor that analyzes the performance of rule-based versus discretionary approaches to monetary policy, helping to popularize the Taylor rule framework.
-
E.
The New Keynesian Phillips Curve: Time Series Evidence from the Euro Area
"The New Keynesian Phillips Curve: Time Series Evidence from the Euro Area" is an influential empirical economics paper by Jordi Galí that tests and supports New Keynesian inflation dynamics using euro area data.
- F. None of above. chosen
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
book
ⓘ
economics monograph ⓘ macroeconomics book ⓘ |
| approach |
New Keynesian framework
ⓘ
intertemporal optimization ⓘ microfounded macroeconomic modeling ⓘ rational expectations ⓘ |
| author | Michael Woodford ⓘ |
| contribution |
analysis of optimal monetary policy under commitment
ⓘ
analysis of optimal monetary policy under discretion ⓘ conditions for equilibrium determinacy under interest rate rules ⓘ formalization of New Keynesian monetary policy analysis ⓘ integration of nominal rigidities into DSGE models ⓘ rigorous welfare-based evaluation of policy rules ⓘ |
| field |
New Keynesian economics
ⓘ
macroeconomics ⓘ monetary economics ⓘ |
| focus |
design of interest rate rules
ⓘ
role of interest rates in monetary policy ⓘ stabilization of inflation and output ⓘ |
| influencedField |
central bank research
ⓘ
inflation targeting frameworks ⓘ modern monetary policy analysis ⓘ |
| language | English ⓘ |
| recognizedAs |
foundational text for New Keynesian monetary theory
ⓘ
highly influential work in macroeconomics ⓘ |
| subject |
New Keynesian Phillips curve
ⓘ
linked to:
New Keynesian Phillips Curve
Taylor principle ⓘ determinacy of equilibrium ⓘ dynamic stochastic general equilibrium models ⓘ expectations in monetary policy ⓘ inflation dynamics ⓘ inflation targeting ⓘ interest rate rules ⓘ interest rate smoothing ⓘ monetary policy ⓘ nominal rigidities ⓘ optimal monetary policy ⓘ policy rules ⓘ price stickiness ⓘ welfare-based policy evaluation ⓘ zero lower bound on nominal interest rates ⓘ |
| theoreticalBasis |
Calvo pricing
ⓘ
Euler equations for consumption ⓘ New Keynesian Phillips curve ⓘ
linked to:
New Keynesian Phillips Curve
|
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Interest and Prices: Foundations of a Theory of Monetary Policy Description of subject: Interest and Prices: Foundations of a Theory of Monetary Policy is a highly influential macroeconomics book that develops a rigorous New Keynesian framework for analyzing monetary policy and inflation dynamics.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject linked to:
Jordi Gali
linked to: Interest and Prices: Foundations of a Theory of Monetary Policy