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 FieldValueLanguage
dc.contributor.authorEnders, Zenoen_US
dc.date.accessioned2010-04-20en_US
dc.date.accessioned2010-08-17T12:28:20Z-
dc.date.available2010-08-17T12:28:20Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/38808-
dc.description.abstractThis 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.isoengen_US
dc.publisherGraduate School of Economics Bonnen_US
dc.relation.ispartofseriesBonn econ discussion papers 2010,8en_US
dc.subject.jelE31en_US
dc.subject.jelE32en_US
dc.subject.jelE51en_US
dc.subject.ddc330en_US
dc.subject.keywordSegmented Asset Marketsen_US
dc.subject.keywordMonetary Policyen_US
dc.subject.keywordCountercyclical Markupsen_US
dc.subject.keywordLiquidity Effecten_US
dc.subject.keywordLimited Participationen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwTransmissionsmechanismusen_US
dc.subject.stwAgent-based Modelen_US
dc.subject.stwKonsumentenverhaltenen_US
dc.subject.stwKapitalanlageen_US
dc.subject.stwVermögenseffekten_US
dc.subject.stwExtensives Spielen_US
dc.subject.stwMark-up Pricingen_US
dc.subject.stwInflationen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwTheorieen_US
dc.titleHeterogeneous consumers, segmented asset markets, and the effects of monetary policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn623967480en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn

Files in This Item:
File Description SizeFormat
623967480.pdf518.88 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.