modern monetary economics
E930669
Modern monetary economics is a field of economic theory that rigorously analyzes the role of money, monetary policy, and financial institutions in determining prices, output, and welfare using formal micro-founded models.
All labels observed (1)
| Label | Occurrences |
|---|---|
| modern monetary economics canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T11515502 — 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: modern monetary economics Context triple: [Neil Wallace, influenced, modern monetary economics]
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A.
New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
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B.
Post-Keynesian economics
Post-Keynesian economics is a heterodox school of economic thought, inspired by John Maynard Keynes and further developed by economists like Nicholas Kaldor, that emphasizes fundamental uncertainty, the role of effective demand, and the importance of institutions and income distribution in determining macroeconomic outcomes.
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C.
New Classical macroeconomics
New Classical macroeconomics is a school of thought that emphasizes rational expectations, market-clearing models, and the idea that systematic monetary policy has limited real effects on output and employment.
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D.
New Neoclassical Synthesis
The New Neoclassical Synthesis is a macroeconomic framework that blends key elements of New Keynesian and New Classical theories, using microfounded models with rational expectations and nominal rigidities to analyze monetary and fiscal policy.
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E.
neoclassical synthesis
The neoclassical synthesis is a mid-20th-century economic framework that blends Keynesian macroeconomics with neoclassical microeconomics to explain and guide modern mixed-market economies.
- 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: modern monetary economics Target entity description: Modern monetary economics is a field of economic theory that rigorously analyzes the role of money, monetary policy, and financial institutions in determining prices, output, and welfare using formal micro-founded models.
-
A.
New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
-
B.
Post-Keynesian economics
Post-Keynesian economics is a heterodox school of economic thought, inspired by John Maynard Keynes and further developed by economists like Nicholas Kaldor, that emphasizes fundamental uncertainty, the role of effective demand, and the importance of institutions and income distribution in determining macroeconomic outcomes.
-
C.
New Classical macroeconomics
New Classical macroeconomics is a school of thought that emphasizes rational expectations, market-clearing models, and the idea that systematic monetary policy has limited real effects on output and employment.
-
D.
New Neoclassical Synthesis
The New Neoclassical Synthesis is a macroeconomic framework that blends key elements of New Keynesian and New Classical theories, using microfounded models with rational expectations and nominal rigidities to analyze monetary and fiscal policy.
-
E.
neoclassical synthesis
The neoclassical synthesis is a mid-20th-century economic framework that blends Keynesian macroeconomics with neoclassical microeconomics to explain and guide modern mixed-market economies.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
academic discipline
ⓘ
field of economics ⓘ subfield of macroeconomics ⓘ |
| analyzes |
forward guidance
ⓘ
inflation targeting ⓘ optimal monetary policy ⓘ price level targeting ⓘ quantitative easing ⓘ unconventional monetary policy ⓘ welfare effects of monetary policy ⓘ zero lower bound on nominal interest rates ⓘ |
| appliesTo |
central banking practice
ⓘ
inflation control ⓘ monetary policy design ⓘ stabilization policy ⓘ |
| focusesOn |
financial institutions
ⓘ
monetary policy ⓘ output determination ⓘ price determination ⓘ role of money in the economy ⓘ welfare analysis ⓘ |
| goal |
explain how monetary policy affects real and nominal variables
ⓘ
provide micro-foundations for monetary policy analysis ⓘ |
| relatedTo |
New Keynesian economics
ⓘ
financial economics ⓘ macroeconomic policy ⓘ monetary theory ⓘ |
| studies |
banking sector
ⓘ
central bank behavior ⓘ credit markets ⓘ expectations formation ⓘ financial frictions ⓘ inflation dynamics ⓘ interest rate rules ⓘ liquidity constraints ⓘ monetary transmission mechanism ⓘ money demand ⓘ money supply ⓘ nominal rigidities ⓘ policy credibility ⓘ price stickiness ⓘ time inconsistency of policy ⓘ wage stickiness ⓘ |
| usesMethod |
dynamic stochastic general equilibrium models
ⓘ
formal economic modeling ⓘ general equilibrium analysis ⓘ intertemporal optimization ⓘ micro-founded models ⓘ rational expectations ⓘ |
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: modern monetary economics Description of subject: Modern monetary economics is a field of economic theory that rigorously analyzes the role of money, monetary policy, and financial institutions in determining prices, output, and welfare using formal micro-founded models.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.