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Consumption Growth and the Real Interest Rate following a Monetary Policy Shock: Is the Habit Persistence Assumption Relevant?
Auray, Stéphane; Gallès, Clémentine - In: Recherches économiques de Louvain 74 (2008) 2, pp. 121-143
Persistent link: https://www.econbiz.de/10008708902
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Consumption Growth and the Real Interest Rate following a Monetary Policy Shock: Is the Habit Persistence Assumption Relevant?
Auray, Stéphane; Gallès, Clémentine - In: Recherches économiques de Louvain 74 (2008) 2, pp. 121-142
Persistent link: https://www.econbiz.de/10008070417
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Consumption Growth and the Real Interest Rate following a Monetary Policy Shock : Is the Habit Persistence Assumption Relevant?
AURAY, Stéphane; GALLÈS, Clémentine - Institut de Recherche Économique et Sociale (IRES), … - 2008
In this paper, we study the role of habit formation in accounting for the joint behavior of the real interest rate and consumption growth following a contractionary monetary policy shock, the real interest rate exhibits a persistent increase while consumption growth drops persitently. As the...
Persistent link: https://www.econbiz.de/10008505615
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Consumption Growth and the Real Interest Rate following a Monetary Policy Shock: Is the Habit Persistence Assumption Relevant?
Auray, Stéphane; Gallès, Clémentine - In: Recherches économiques de Louvain 74 (2008) 2, pp. 121-142
In this paper, we study the role of habit formation in accounting for the joint behavior of the real interest rate and consumption growth following a monetary policy shock. A VAR estimation on US data shows that following a contractionary monetary policy shock, the real interest rate exhibits a...
Persistent link: https://www.econbiz.de/10005560187
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Consommation, effet de substitution intertemporelle et formation des habitudes
Auray, Stéphane - In: L' Actualité économique : revue trimest. 85 (2009) 4, pp. 437-473
Persistent link: https://www.econbiz.de/10009307222
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On the observational (non)equivalence of money growth and interest rate rules
Auray, Stéphane; Fève, Patrick - In: Journal of macroeconomics 30 (2008) 3, pp. 801-816
Persistent link: https://www.econbiz.de/10003781787
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Sharing money creation in a monetary union
Auray, Stéphane; Eyquem, Aurélien; Hamiache, Gérard; … - In: Review of international economics 16 (2008) 5, pp. 817-834
Persistent link: https://www.econbiz.de/10003776595
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Nash bargaining, money creation, and currency union
Auray, Stéphane; Eyquem, Aurélien; Hamiache, Gérard; … - In: Annals of economics and finance 9 (2008) 2, pp. 253-292
Persistent link: https://www.econbiz.de/10003796420
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Bargaining frictions, labor income taxation and eonomic peformance
Auray, Stéphane; Danthine, Samuel - 2008
Persistent link: https://www.econbiz.de/10003826131
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Chocs asymétriques et bien-être en union monétaire avec marchés financiers incomplets
Auray, Stéphane; Eyquem, Aurélien - In: Revue économique : revue bimestrielle 60 (2009) 3, pp. 667-677
Persistent link: https://www.econbiz.de/10003885469