Persistent liquidity effects ad long-run money demand.
Tipo de material:
ArtículoIdioma: Inglés ISSN: - 19457707
Contenidos:
En: The American economic journal: macroeconomicsResumen: 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.
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
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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.
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