| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP569 |
| DP569 Financial Innovation and the Neutrality of Money | |
| Michael Moore | |
| 发表日期 | 1991-08-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | It is argued that financial innovation, in so far as it affects the technology for carrying out transactions, is endogenous, discrete and irreversible. This observation is developed to provide microfoundations for a type of `liquidity' trap and its implications of this are explored in an intertemporal optimizing macroeconomic model with perfect foresight. The main conclusion is that financial innovation of this kind can lead to co-ordination failure in the financial sector. Consequently changes in the nominal money stock can have real effects. These results are illustrated diagramatically using a novel form of the IS/LM apparatus. The analysis also suggests there may be a connection between instability in the demand for money and the Phillips curve may be connected. |
| 主题 | International Macroeconomics |
| 关键词 | Demand for money Innovation Is-lm curve monetary policy |
| URL | https://cepr.org/publications/dp569 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529727 |
| 推荐引用方式 GB/T 7714 | Michael Moore. DP569 Financial Innovation and the Neutrality of Money. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Michael Moore]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Michael Moore]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Michael Moore]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
