Arbeitspapier
A Comparison of Exchange Economies within a Monetary Business Cycle
The paper sets out a monetary business cycle model with three alternative exchange technologies, the cash-only, shopping time, and credit production models. The goods productivity and money shocks affect all three models, while the credit model has in addition a credit productivity shock. The paper compares the performance of the models in explaining the puzzles of the monetary business cycle theory. The credit model improves the ability to explain the procyclic movement of monetary aggregates, inflation and the nominal interest rate.
- Sprache
-
Englisch
- Erschienen in
-
Series: Cardiff Economics Working Papers ; No. E2005/14
Klassifikation
Wirtschaft
General Aggregative Models: Neoclassical
Business Fluctuations; Cycles
Financial Markets and the Macroeconomy
General Aggregative Models: Neoclassical
Business Fluctuations; Cycles
Financial Markets and the Macroeconomy
Thema
Cash-in-advance
credit production
cycle
inflation
credit production
cycle
inflation
Ereignis
Geistige Schöpfung
(wer)
Benk, Szilárd
Gillman, Max
Kejak, Michal
Gillman, Max
Kejak, Michal
Ereignis
Veröffentlichung
(wer)
Cardiff University, Cardiff Business School
(wo)
Cardiff
(wann)
2005
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Benk, Szilárd
- Gillman, Max
- Kejak, Michal
- Cardiff University, Cardiff Business School
Entstanden
- 2005
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