Traditionally, the effects of monetary policy actions on output are thought to be transmitted via monetary or credit channels. Real business cycle theory, by contrast, highlights the role of real price changes as a source of revisions in spending and production decisions. Motivated by the desire to focus on the effects of price changes in the monetary transmission mechanism, this paper incorporates a direct measure of the real own-price of money into an estimated vector autoregression and a calibrated real business cycle model. Consistent with this new view of the monetary transmission mechanism, both approaches reveal that movements in the own-price of money are strongly related to movements in output.
The role of unanticipated changes in money growth for aggregate fluctuations is reexamined using the...
This thesis reports new evidence of a liquidity effect from money supply changes. From evidence, the...
The main objective of this study is to try to understand how money affects real output. Despite the ...
Traditionally, the effects of monetary policy actions on output are thought to be transmitted via mo...
Theoretical discussions involving the relationship between the money supply and an economy\u27s outp...
The theory of real business cycles (RBC) interprets the often found link between money and output as...
M uch of the literature in macroeconomics is concerned with theeffects of monetary disturbances on t...
Empirical studies have shown that in economies with relatively low inflation rates output growth and...
Abstract. This paper is focused on a review of causality relationship between money, income, price a...
In the U.S. business cycle, a monetary aggregate consisting predominantly of sight deposits strongly...
Robert Barro in his three papers on the topic(AER 1977, JPE 1978, and 1978 conference paper with Mar...
In macroeconomic theory, different approaches discuss the ability of monetary policy to affect real ...
There is substantial research effort devoted to identifying a sufficient statistic for monetary poli...
This paper examines the effectiveness of monetary aggregates through various nominal interest rates ...
I have explained business cycles in Canada focusing on the role of money. To do that, I have used bo...
The role of unanticipated changes in money growth for aggregate fluctuations is reexamined using the...
This thesis reports new evidence of a liquidity effect from money supply changes. From evidence, the...
The main objective of this study is to try to understand how money affects real output. Despite the ...
Traditionally, the effects of monetary policy actions on output are thought to be transmitted via mo...
Theoretical discussions involving the relationship between the money supply and an economy\u27s outp...
The theory of real business cycles (RBC) interprets the often found link between money and output as...
M uch of the literature in macroeconomics is concerned with theeffects of monetary disturbances on t...
Empirical studies have shown that in economies with relatively low inflation rates output growth and...
Abstract. This paper is focused on a review of causality relationship between money, income, price a...
In the U.S. business cycle, a monetary aggregate consisting predominantly of sight deposits strongly...
Robert Barro in his three papers on the topic(AER 1977, JPE 1978, and 1978 conference paper with Mar...
In macroeconomic theory, different approaches discuss the ability of monetary policy to affect real ...
There is substantial research effort devoted to identifying a sufficient statistic for monetary poli...
This paper examines the effectiveness of monetary aggregates through various nominal interest rates ...
I have explained business cycles in Canada focusing on the role of money. To do that, I have used bo...
The role of unanticipated changes in money growth for aggregate fluctuations is reexamined using the...
This thesis reports new evidence of a liquidity effect from money supply changes. From evidence, the...
The main objective of this study is to try to understand how money affects real output. Despite the ...