Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39547
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dc.contributor.authorBrückner, Matthiasen_US
dc.contributor.authorSchabert, Andreasen_US
dc.date.accessioned2010-09-01T09:47:43Z-
dc.date.available2010-09-01T09:47:43Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/39547-
dc.description.abstractThis paper presents a business cycle model with financial intermediationencompassing the conventional New Keynesian model. Households’financial wealth comprises cash and interest bearing deposits. When depositsprovide transaction services, real broad money, which is predetermined,affects aggregate demand and has a stabilizing impact. Monetarypolicy can ensure equilibrium uniqueness if the central bank reacts atleast slightly on the real broad money gap. Moreover, if the central bankaims at minimizing a standard loss function, real broad money entersthe interest rate reaction function. Thus, money matters if it is definedbroadly enough to include all households’ financial assets.-
dc.language.isoengen_US
dc.publisher|aZEI |cBonnen_US
dc.relation.ispartofseries|aZEI working paper |xB 15-2002en_US
dc.subject.jelE52-
dc.subject.jelE51-
dc.subject.jelE41-
dc.subject.jelE32-
dc.subject.ddc330en_US
dc.subject.keywordInterest rate policy-
dc.subject.keywordreal broad money-
dc.subject.keywordfinancial wealth-
dc.subject.keywordmacroeconomic stability-
dc.subject.stwZinspolitiken_US
dc.subject.stwKonjunkturpolitiken_US
dc.subject.stwGeldmengeen_US
dc.subject.stwUngleichgewichtstheorieen_US
dc.subject.stwKonjunkturtheorieen_US
dc.subject.stwVermögenseffekten_US
dc.titleDoes broad money matter for interest rate policy?en_US
dc.type|aWorking Paperen_US
dc.identifier.ppn825487390en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B152002-

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