| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28464 |
| 来源ID | Working Paper 28464 |
| The Analytic Theory of a Monetary Shock | |
| Fernando E. Alvarez; Francesco Lippi | |
| 发表日期 | 2021-02-15 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We propose an analytical method to analyze the propagation of a once-and-for-all shock in a broad class of sticky price models. The method is based on the eigenvalue- eigenfunction representation of the dynamics of the cross-sectional distribution of firms’ desired adjustments. A key novelty is that, under assumptions that are appropriate for low-inflation economies, we can approximate the whole profile of the impulse response for any moment of interest in response to an aggregate shock (any displacement of the invariant distribution). We present several applications and discuss extensions. |
| 主题 | Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w28464 |
| 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/586137 |
| 推荐引用方式 GB/T 7714 | Fernando E. Alvarez,Francesco Lippi. The Analytic Theory of a Monetary Shock. 2021. |
| 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 | ||
| w28464.pdf（458KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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