I hear a lot about Krugman’s “models” both from Krugman and his critics and supporters. Where could a guy get an in-depth explication of these models expressed in common-sense language. Any ideas???
Here are a few pieces on Krugman’s baby-sitting co-op model:
Here is Greg Mankiw on New Keynesian models.
You might consult his textbooks for an introduction to New Keynesian models.