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Chiu, Jonathan (contributor); Molico, Miguel (contributor) - 2008

This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings...

Persistent link: https://www.econbiz.de/10003711687

Unemployment and the Demand for Money

Huber, Samuel - 2019

We develop a dynamic general equilibrium model to analyze the relationship between monetary policy, money demand, and unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and an upward sloping curve for high inflation...

Persistent link: https://www.econbiz.de/10012869629

Unemployment and the demand for money

Huber, Samuel; Kim, Jaehong; Marchesiani, Alessandro - 2019

Persistent link: https://www.econbiz.de/10012018950

Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve

Vaona, Andrea - 2016

Money long-run super-neutrality and the vertical long-run Phillips curve are two widely shared beliefs in the economics profession and among economic policy-makers. The present survey is devoted to anomalous empirical evidence which challenges this view. We consider a variety of studies,...

Persistent link: https://www.econbiz.de/10011456445

Bayesian prediction with a cointegrated vector autoregression

Villani, Mattias - 1999

vector autoregression is presented. The large degree of uncertainty in the choise of the cointegration vectors is … incorporated into the analysis through a prior distribution on the cointegration vectors which allows the forecaster to … different cointegration vectors are weighted together in an optimal way. The ideas of Litterman (1980) are adapted for the prior …

Persistent link: https://www.econbiz.de/10011584826

Constructing divisia monetary aggregates for Nigeria

Bello, Yakubu. A.; Audu, Salihu; Ibrahim, Hamman; … - In: CBN journal of applied statistics 13 (2022) 1, pp. 163-207

This study computes Divisia monetary aggregates DM1, DM2, and DM3 for Nige- ria using the Tornqvist-Theil quantity index for the period 2007M12 to 2020M12 and evaluates the performance of the higher-order aggregate (DM3) with a corre- sponding higher aggregate of the simple sum broad money...

Persistent link: https://www.econbiz.de/10014282087