| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w3221
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| 来源ID | Working Paper 3221
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| Money and Business Cycles: A Real Business Cycle Interpretation |
| Charles I. Plosser
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| 发表日期 | 1990
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| 出版年 | 1990
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| 语种 | 英语
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| 摘要 | This paper focuses on the role of money in economic fluctuations. While money may play an important role in market economies, its role as an important impulse to business cycles remains a highly controversial hypothesis. For years economists have attempted to construct monetary theories of the business cycle with only limited empirical success. Alternatively, recent real theories of the cycle have taken the view that to a first approximation independent variations in the nominal quantity of outside money are neutral. This paper finds that the empirical evidence for a monetary theory of the cycle is weak. Not only do variations in nominal money explain very little of subsequent movements in real activity, but what explanatory power exists arises from variations in endogenous components of money. |
| 主题 | Macroeconomics
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| URL | https://www.nber.org/papers/w3221
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560507
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推荐引用方式
GB/T 7714 |
Charles I. Plosser. Money and Business Cycles: A Real Business Cycle Interpretation. 1990.
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文件名：
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w3221.pdf
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格式：
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Adobe PDF
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