Arbeitspapier
The real effects of money growth in dynamic general equilibrium
We analyse the effects of money growth within a standard New Keynesian framework and show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth. We explore the microeconomic mechanisms that lead to this trade-off, and show that it remains even when the contract length is endogenised.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 412
- Classification
-
Wirtschaft
Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
Money and Interest Rates: General
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
- Subject
-
inflation
nominal inertia
Phillips curve
Unemployment
- Event
-
Geistige Schöpfung
- (who)
-
Graham, Liam
Snower, Dennis J.
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2004
- Handle
- Last update
-
20.09.2024, 8:21 AM CEST
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Graham, Liam
- Snower, Dennis J.
- European Central Bank (ECB)
Time of origin
- 2004
Other Objects (12)
Beyond capital and wealth : Challenges of the G20
Ideas for a new financial architecture
European unemployment : the insider-outsider explanation and its policy implications
Creating employment incentives
Redistribution through the Geithner Plan
Comment on "Dynamico : A multilevel programming model of world trade and development" by Antonio M. Costa
Challenges to social cohesion and approaches to policy reform
Dynamic environmental targets and technological progress
The Socio-Economics of Pandemics Policy
Bread and bullets
The effectiveness of employment vouchers : a simple approach
Capitalism recoupled
Beyond capital and wealth : Challenges of the G20
Ideas for a new financial architecture
European unemployment : the insider-outsider explanation and its policy implications
Creating employment incentives
Redistribution through the Geithner Plan
Comment on "Dynamico : A multilevel programming model of world trade and development" by Antonio M. Costa
Challenges to social cohesion and approaches to policy reform
Dynamic environmental targets and technological progress
The Socio-Economics of Pandemics Policy
Bread and bullets
The effectiveness of employment vouchers : a simple approach
Capitalism recoupled
Beyond capital and wealth : Challenges of the G20
Ideas for a new financial architecture
European unemployment : the insider-outsider explanation and its policy implications
Creating employment incentives
Redistribution through the Geithner Plan
Comment on "Dynamico : A multilevel programming model of world trade and development" by Antonio M. Costa
Challenges to social cohesion and approaches to policy reform
Dynamic environmental targets and technological progress
The Socio-Economics of Pandemics Policy
Bread and bullets
The effectiveness of employment vouchers : a simple approach