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Álvarez, Fernando.

Persistent liquidity effects ad long-run money demand.

Bibliografía : páginas 105-107.

The model, 76 ; Approximate aggregation with segmented markets, 83 ; Velocity and money growth, 85 ; Interest rates with segmented markets, 88 ; A calibration of the model on the US data, 101 ; Concluding remarks, 104

We present a monetary model with segmented asset markets that implies a persistent fall in interest rates after a once-for-all increase in liquidity.

ISSN: 19457707

Subjects--Topical Terms:
Disponibilidades monetarias.