| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17885 |
| 来源ID | Working Paper 17885 |
| The Barnett Critique After Three Decades: A New Keynesian Analysis | |
| Michael T. Belongia; Peter N. Ireland | |
| 发表日期 | 2012-03-01 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper extends a New Keynesian model to include roles for currency and deposits as competing sources of liquidity services demanded by households. It shows that, both qualitatively and quantitatively, the Barnett critique applies: While a Divisia aggregate of monetary services tracks the true monetary aggregate almost perfectly, a simple-sum measure often behaves quite differently. The model also shows that movements in both quantity and price indices for monetary services correlate strongly with movements in output following a variety of shocks. Finally, the analysis characterizes the optimal monetary policy response to disturbances that originate in the financial sector. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w17885 |
| 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/575560 |
| 推荐引用方式 GB/T 7714 | Michael T. Belongia,Peter N. Ireland. The Barnett Critique After Three Decades: A New Keynesian Analysis. 2012. |
| 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 | ||
| w17885.pdf（488KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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