Arbeitspapier
Money, prices and liquidity effects: Separating demand from supply
In the canonical monetary policy model, money is endogenous to the optimal path for interest rates and output. But when liquidity provision by banks dominates the demand for transactions money from the real economy, money is likely to contain information for future output and inflation because of its impact on financial spreads. And so we decompose broad money into primitive demand and supply shocks. We find that supply shocks have dominated the time series in both the UK and the US in the short to medium term. We further consider to what extent the supply of broad money is related to policy or to liquidity effects from financial intermediation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Department of Economics Discussion Paper ; No. 08,17
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Current Account Adjustment; Short-term Capital Movements
Open Economy Macroeconomics
- Thema
-
money
prices
Bayesian VAR identification
sign restrictions
Geldtheorie
Geldangebot
Geldnachfrage
Transaktionskosten
Inflationserwartung
VAR-Modell
Großbritannien
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chadha, Jagjit S.
Corrado, Luisa
Sun, Qi
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Kent, Department of Economics
- (wo)
-
Canterbury
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Chadha, Jagjit S.
- Corrado, Luisa
- Sun, Qi
- University of Kent, Department of Economics
Entstanden
- 2008
Ähnliche Objekte (12)
Quantitative validation of CFD simulations of blood flow in cerebral aneurysms : in-vitro and in-vivo investigations
A Finite Element Method for Two-Phase Flow with Material Viscous Interface
Productivity, preferences and UIP deviations in an open economy business cycle model
Social learning and health insurance enrollment: Evidence from China's New Cooperative Medical Scheme
Genome-wide analyses reveal lineage specific contributions of positive selection and recombination to the evolution of Listeria monocytogenes
Weighted directed graph-based automatic seizure detection with effective brain connectivity for EEG signals
Covalent Organic Frameworks: Opportunities of Covalent Organic Frameworks for Advanced Applications (Adv. Sci. 2/2019)
Three synchronous lesions with different historical types diagnosed by endoscopic submucosal dissection in one patient
Os acromiale may be a contraindication of the clavicle hook plate: case reports and literature review
Opportunities of Covalent Organic Frameworks for Advanced Applications
All‐Inorganic Perovskite Solar Cells: Modification Strategies and Challenges
Estimation bias and serial dependence in speed perception
Quantitative validation of CFD simulations of blood flow in cerebral aneurysms : in-vitro and in-vivo investigations
A Finite Element Method for Two-Phase Flow with Material Viscous Interface
Productivity, preferences and UIP deviations in an open economy business cycle model
Social learning and health insurance enrollment: Evidence from China's New Cooperative Medical Scheme
Genome-wide analyses reveal lineage specific contributions of positive selection and recombination to the evolution of Listeria monocytogenes
Weighted directed graph-based automatic seizure detection with effective brain connectivity for EEG signals
Covalent Organic Frameworks: Opportunities of Covalent Organic Frameworks for Advanced Applications (Adv. Sci. 2/2019)
Three synchronous lesions with different historical types diagnosed by endoscopic submucosal dissection in one patient
Os acromiale may be a contraindication of the clavicle hook plate: case reports and literature review
Opportunities of Covalent Organic Frameworks for Advanced Applications
All‐Inorganic Perovskite Solar Cells: Modification Strategies and Challenges
Estimation bias and serial dependence in speed perception
Quantitative validation of CFD simulations of blood flow in cerebral aneurysms : in-vitro and in-vivo investigations
A Finite Element Method for Two-Phase Flow with Material Viscous Interface
Productivity, preferences and UIP deviations in an open economy business cycle model
Social learning and health insurance enrollment: Evidence from China's New Cooperative Medical Scheme
Genome-wide analyses reveal lineage specific contributions of positive selection and recombination to the evolution of Listeria monocytogenes
Weighted directed graph-based automatic seizure detection with effective brain connectivity for EEG signals
Covalent Organic Frameworks: Opportunities of Covalent Organic Frameworks for Advanced Applications (Adv. Sci. 2/2019)
Three synchronous lesions with different historical types diagnosed by endoscopic submucosal dissection in one patient
Os acromiale may be a contraindication of the clavicle hook plate: case reports and literature review
Opportunities of Covalent Organic Frameworks for Advanced Applications
All‐Inorganic Perovskite Solar Cells: Modification Strategies and Challenges