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- Divine_coincidence abstract "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 gap (the gap between actual output and efficient output) for central banks. This property is attributed to a feature of the model, namely the absence of real imperfections such as real wage rigidities. Conversely, if New Keynesian models are extended to account for these real imperfections, divine coincidence disappears and central banks again face a trade-off between inflation and output gap stabilization. The definition of divine coincidence is usually attributed to the seminal article by Olivier Blanchard and Jordi Galí in 2005.".
- Divine_coincidence wikiPageID "40276931".
- Divine_coincidence wikiPageRevisionID "588059752".
- Divine_coincidence subject Category:Macroeconomics.
- Divine_coincidence subject Category:Monetary_economics.
- Divine_coincidence subject Category:New_Keynesian_economics.
- Divine_coincidence comment "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 gap (the gap between actual output and efficient output) for central banks. This property is attributed to a feature of the model, namely the absence of real imperfections such as real wage rigidities.".
- Divine_coincidence label "Divine coincidence".
- Divine_coincidence sameAs m.0wxvv5g.
- Divine_coincidence sameAs Q17010881.
- Divine_coincidence sameAs Q17010881.
- Divine_coincidence wasDerivedFrom Divine_coincidence?oldid=588059752.
- Divine_coincidence isPrimaryTopicOf Divine_coincidence.