G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w0853
来源IDWorking Paper 0853
The Behavior of Money, Credit, and Prices in a Real Business Cycle
Robert G. King; Charles I. Plosser
发表日期1982-02-01
出版年1982
语种英语
摘要This paper analyzes the interaction of money and the price level with a business cycle that is fully real in origin, adopting a view which differs sharply from traditional theories that assign a significant causal influence to monetary movements. The theoretical analysis focuses on a banking system that produces transaction. services on demand and thus reflects market activity. Under one regime of bank regulation and fiat money supply by the monetary authority, the real business cycle theory predicts that (i)movements in external monetary measures should be uncorrelated with real activity and(ii) movements in internal monetary measures should be positively correlated with real activity. Preliminary empirical analysis provides general support for this focus on the banking sector since much of the correlation between monetary measures and real activity is apparently with inside money.
主题Macroeconomics
URLhttps://www.nber.org/papers/w0853
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/558065
推荐引用方式
GB/T 7714
Robert G. King,Charles I. Plosser. The Behavior of Money, Credit, and Prices in a Real Business Cycle. 1982.
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