G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6840
DP6840 Crime and Ethnicity in London
Yves Zenou; Eleonora Patacchini
发表日期2008-05-30
出版年2008
语种英语
摘要Woodford (2003) describes a popular class of neo-Wicksellian models in which monetary policy is characterized by an interest-rate rule, and the money market and financial institutions are typically not even modelled. Critics contend that these models are incomplete and unsuitable for monetary-policy evaluation. Our Banks and Bonds model starts with a standard neo-Wicksellian model and then adds banks and a role for bonds in the liquidity management of households and banks. The Banks and Bonds model gives a more complete description of the economy, but the neo-Wicksellian model has the virtue of simplicity. Our purpose here is to see if the neo-Wicksellian model gives a reasonably accurate account of macroeconomic behaviour in the more complete Banks and Bonds model. We do this by comparing the models? second moments, variance decompositions and impulse response functions. We also study the role of monetary aggregates and velocity in predicting inflation in the two models.
主题International Macroeconomics
关键词Banks Monetary aggregates
URLhttps://cepr.org/publications/dp6840
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/535676
推荐引用方式
GB/T 7714
Yves Zenou,Eleonora Patacchini. DP6840 Crime and Ethnicity in London. 2008.
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
[Yves Zenou]的文章
[Eleonora Patacchini]的文章
百度学术
百度学术中相似的文章
[Yves Zenou]的文章
[Eleonora Patacchini]的文章
必应学术
必应学术中相似的文章
[Yves Zenou]的文章
[Eleonora Patacchini]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。