Showing 1 - 6 of 6
A cash-in-advance constraint on consumption is incorporated into a standard model of consumption and capital …
Persistent link: https://www.econbiz.de/10005368302
This study pursues two addenda to the practitioner and academic on the effect of monetary policy on asset prices. First, this paper applies cointegration theory, and, second, relaxes the stringent assumption in the literature that changes in 10-year Treasury yields, stock returns, and changes in...
Persistent link: https://www.econbiz.de/10005393989
The standard argument for abstracting from capital accumulation in sticky-price macro models is based on their short …-run focus: over this horizon, capital does not move much. This argument is more problematic in the context of real exchange rate … (RER) dynamics, which are very persistent. In this paper we study RER dynamics in sticky-price models with capital …
Persistent link: https://www.econbiz.de/10010558500
Persistent link: https://www.econbiz.de/10001625083
Persistent link: https://www.econbiz.de/10001763051
Persistent link: https://www.econbiz.de/10000905750