| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2553 |
| DP2553 Resale Price Maintenance and Collusion | |
| Patrick Rey; Bruno Jullien | |
| 发表日期 | 2000-09-26 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | We study the properties of alternative central bank targeting procedures in a general equilibrium monetary model of the US economy with labour contracts, endogenous velocity and three shocks: money demand, supply and fiscal. Money demand -velocity- shocks emerge as the main sources of macroeconomic volatility. Consequently, nominal interest rate targeting results in greater stability than money targeting. Interestingly this holds independently of the type of the shock (unlike Poole). Interest rate targeting also generates a higher level of welfare. |
| 主题 | International Macroeconomics |
| 关键词 | Central bank operating procedures Money targeting Interest targeting Macroeconomic stability Monetary policy and welfare |
| URL | https://cepr.org/publications/dp2553 |
| 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/531625 |
| 推荐引用方式 GB/T 7714 | Patrick Rey,Bruno Jullien. DP2553 Resale Price Maintenance and Collusion. 2000. |
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