This paper develops a policy-oriented business-cycle model with fluctuating unemployment, stable inflation, and long zero-lower-bound episodes. The innovations are that producers and consumers meet through a matching function, and wealth enters the utility function.
This paper resolves the anomalies of the New Keynesian model at the zero lower bound—explosive recession, forward guidance puzzle, multiplier puzzle—by introducing wealth into the utility function.
This graduate course covers basic mathematical methods for macroeconomics: dynamic programming, optimal control, and differential equations.