| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6371 |
| 来源ID | Working Paper 6371 |
| Modeling Money | |
| Lawrence J. Christiano; Martin Eichenbaum; Charles L. Evans | |
| 发表日期 | 1998 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | We develop and implement a limited information diagnostic strategy for assessing the plausibility of monetary business cycle models. Our strategy focuses on a model's ability to reproduce empirical estimates of an actual economy's response to monetary policy shocks. A key input to this diagnostic is a univariate time series representation of the response of money to a shock in monetary policy. We find that a monetary policy shock has only a small contemporaneous effect on the monetary base and M1. Its primary effect is to signal future movements in the money supply. We implement our diagnostic strategy on a limited participation model of money which stresses the importance of credit market frictions in the monetary transmission mechanism. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w6371 |
| 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/563875 |
| 推荐引用方式 GB/T 7714 | Lawrence J. Christiano,Martin Eichenbaum,Charles L. Evans. Modeling Money. 1998. |
| 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 | ||
| w6371.pdf（2028KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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