|
EconStor >
Rheinische Friedrich-Wilhelms-Universität Bonn >
Bonn Graduate School of Economics (BGSE), Universität Bonn >
Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/38808
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Enders, Zeno | | en_US |
| dc.date.accessioned | | 2010-04-20 | | en_US |
| dc.date.accessioned | | 2010-08-17T12:28:20Z | | - |
| dc.date.available | | 2010-08-17T12:28:20Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/38808 | | - |
| dc.description.abstract | | This paper examines the implications of segmented assets markets for the real and nominal effects of monetary policy. I develop a model, in which varieties of consumption bundles are purchased sequentially. Newly injected money thus disseminates slowly through the economy via second-round effects and induces a non-degenerate, long-lasting heterogeneity in wealth. As a result, the effective elasticity of substitution differs across households, affecting optimal markups chosen by producers. In line with empirical evidence, the model predicts a short-term inflation-output trade-off, a liquidity effect, countercyclical markups, and procyclical profits and wages after monetary shocks. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Graduate School of Economics Bonn | | en_US |
| dc.relation.ispartofseries | | Bonn econ discussion papers 2010,8 | | en_US |
| dc.subject.jel | | E31 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.jel | | E51 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Segmented Asset Markets | | en_US |
| dc.subject.keyword | | Monetary Policy | | en_US |
| dc.subject.keyword | | Countercyclical Markups | | en_US |
| dc.subject.keyword | | Liquidity Effect | | en_US |
| dc.subject.keyword | | Limited Participation | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Transmissionsmechanismus | | en_US |
| dc.subject.stw | | Agent-based Model | | en_US |
| dc.subject.stw | | Konsumentenverhalten | | en_US |
| dc.subject.stw | | Kapitalanlage | | en_US |
| dc.subject.stw | | Vermögenseffekt | | en_US |
| dc.subject.stw | | Extensives Spiel | | en_US |
| dc.subject.stw | | Mark-up Pricing | | en_US |
| dc.subject.stw | | Inflation | | en_US |
| dc.subject.stw | | Konjunktur | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Heterogeneous consumers, segmented asset markets, and the effects of monetary policy | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 623967480 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|