EconStor >
Bard College, Annandale-on-Hudson (NY) >
Levy Economics Institute of Bard College >
Working Papers, Levy Economics Institute of Bard College >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/31582
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorHannsgen, Gregen_US
dc.date.accessioned2005-12-07en_US
dc.date.accessioned2010-05-14T11:09:14Z-
dc.date.available2010-05-14T11:09:14Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/31582-
dc.description.abstractMany empirical studies have found that interest rate have a positive effect on the price level. This paper pursues an obvious, but neglected explanation: interest payments are a cost of production that is at least in part passed on to costumers. A model shows that the cost-push effect of inflation, long known as Gibson's paradox, intensifies destabilizing forces and can be involved in the generation of cycles. An empirical investigation finds that the positive association of interest rates with inflation or the log of the price level is present in data from the 1950s to present.en_US
dc.language.isoengen_US
dc.publisherThe Levy Economics Inst. of Bard College Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking papers // The Levy Economics Institute 410en_US
dc.subject.jelC22en_US
dc.subject.jelE11en_US
dc.subject.jelE12en_US
dc.subject.jelE32en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordGibson's Paradoxen_US
dc.subject.keywordInflationen_US
dc.subject.keywordMonetary Policy Rulesen_US
dc.subject.keywordNonlinear Dynamicsen_US
dc.titleGibson's paradox, monetary policy, and the emergence of cyclesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn504002910en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

Files in This Item:
File Description SizeFormat
504002910.pdf673.21 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.