PATH ANALYSIS OF MONETARY POLICY MECHANISMS: DOES ECONOMIC CAPACITY MEDIATE PRICES?
نویسندگان
چکیده
منابع مشابه
Monetary policy and asset prices
The purpose of this paper is study the effect of monetary policy on asset prices. We study the properties of a monetary model in which a real asset is valued for its rate of return and for its liquidity. We show that money is essential if and only if real assets are scarce, in the precise sense that their supply is not sufficient to satisfy the demand for liquidity. Our model generates a clear ...
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Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...
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ژورنال
عنوان ژورنال: Jurnal Penelitan Ekonomi dan Bisnis
سال: 2020
ISSN: 2460-4291,2442-5028
DOI: 10.33633/jpeb.v5i2.3159