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Money, Output and Prices : Evidence from A New Monetary Aggregate
Rotemberg, Julio J. - 1991
This paper develops a new utility-based monetary aggregate which we label the currency equivalent aggregate. This aggregate equals the stock of currency that would be required for households to obtain the same liquidity services that they get from their entire collection of monetary assets. We...
Persistent link: https://www.econbiz.de/10012475173
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Russian Holidays Predict Troll Activity 2015-2017
Almond, Douglas - 2020
While international election interference is not new, Russia is credited with "industrializing" trolling on English … written by trolls from Russia's Internet Research Agency. Most active 2015-2017, these Russian trolls generally supported the …
Persistent link: https://www.econbiz.de/10012482254
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The Band Pass Filter
Christiano, Lawrence J. - 1999
illustrate the use of this approximation, we use it to characterize the change in the nature of the Phillips curve and the money-inflation … change in money growth-inflation relation …
Persistent link: https://www.econbiz.de/10012471533
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Monetary Growth, Inflation, and Economic Activity in a Dynamic Macro Model
Turnovsky, Stephen J. - 1987
This paper analyzes the effects of an increase in the monetary growth rate within a dynamic optimizing macroeconomic model. Both the short-run and long-run effects, and therefore the adjustments along the transitional path, depend critically upon the tax structure and the firm's corresponding...
Persistent link: https://www.econbiz.de/10012476936
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The Effects of Inflation and Money Supply Announcements on Interest Rates
Urich, Thomas - 1984
This paper examines the impact of the money supply and inflation rate announcements on interest rates. Survey data on …
Persistent link: https://www.econbiz.de/10012477775
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Inflation, Monetary Velocity, and Welfare
Krugman, Paul R. - 1982
inflation, and that the optimal monetary policy is that which maximizes real balances. We also show that the real rate of … interest is not invariant to monetary policy: inflation lowers the real rate …
Persistent link: https://www.econbiz.de/10012478118
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Inflation and Unemployment in the Long Run
Berentsen, Aleksander - 2008
We study the long-run relation between money, measured by inflation or interest rates, and unemployment. We first …
Persistent link: https://www.econbiz.de/10012464723
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Money and Inflation in the Euro Area : A Case for Monetary Indicators?
Gerlach, Stefan - 2000
This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …
Persistent link: https://www.econbiz.de/10012470705
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Modeling Money
Christiano, Lawrence J. - 1998
We develop and implement a limited information diagnostic strategy for assessing the plausibility of monetary business cycle models. Our strategy focuses on a model's ability to reproduce empirical estimates of an actual economy's response to monetary policy shocks. A key input to this...
Persistent link: https://www.econbiz.de/10012472447
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The Dynamics of High Inflation
Ball, Laurence - 1993
This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money … demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate …-spending equation that accounts for the effects of the inflation tax. The paper derives the dynamic effects of fiscal policy, incomes …
Persistent link: https://www.econbiz.de/10012474362