| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3824 |
| 来源ID | Working Paper 3824 |
| Money, Output and Prices: Evidence from A New Monetary Aggregate | |
| Julio J. Rotemberg; John C. Driscoll; James M. Poterba | |
| 发表日期 | 1991-08-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | This paper develops a new utility-based monetary aggregate which we label the currency equivalent aggregate. This aggregate equals the stock of currency that would be required for households to obtain the same liquidity services that they get from their entire collection of monetary assets. We compare the ability of the new aggregate and conventional aggregates, such as Ml and M2, and other indicators of monetary policy to forecast real activity. The CE aggregate has more predictive power for output and prices than standard aggregates, and the time path of the estimated output response is more consistent with broad classes of theoretical models. |
| 主题 | Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w3824 |
| 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/561149 |
| 推荐引用方式 GB/T 7714 | Julio J. Rotemberg,John C. Driscoll,James M. Poterba. Money, Output and Prices: Evidence from A New Monetary Aggregate. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3824.pdf（462KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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