G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w3221
来源IDWorking Paper 3221
Money and Business Cycles: A Real Business Cycle Interpretation
Charles I. Plosser
发表日期1990
出版年1990
语种英语
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
URLhttps://www.nber.org/papers/w3221
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/560507
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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