| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6257 |
| 来源ID | Working Paper 6257 |
| Econometric Models of Limit-Order Executions | |
| Andrew W. Lo; A. Craig MacKinlay; June Zhang | |
| 发表日期 | 1997-11-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper attempts to assess whether money can generate persistent economic" fluctuations in dynamic general equilibrium models of the business cycle. We show that a small" nominal friction in the goods market can make the response of output to monetary shocks large" and persistent if it is amplified by real wage rigidity in the labor market. We also argue that" given the level of real wage rigidity that is observed in developed countries nominal stickiness might be sufficient for money to produce economic fluctuations as persistent" as those observed in the data. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w6257 |
| 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/563768 |
| 推荐引用方式 GB/T 7714 | Andrew W. Lo,A. Craig MacKinlay,June Zhang. Econometric Models of Limit-Order Executions. 1997. |
| 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 | ||
| w6257.pdf（2689KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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