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https://hdl.handle.net/10419/39547
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Brückner, Matthias | en |
dc.contributor.author | Schabert, Andreas | en |
dc.date.accessioned | 2010-09-01T09:47:43Z | - |
dc.date.available | 2010-09-01T09:47:43Z | - |
dc.date.issued | 2002 | - |
dc.identifier.uri | http://hdl.handle.net/10419/39547 | - |
dc.description.abstract | This 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. | en |
dc.language.iso | eng | en |
dc.publisher | |aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonn | en |
dc.relation.ispartofseries | |aZEI Working Paper |xB 15-2002 | en |
dc.subject.jel | E52 | en |
dc.subject.jel | E51 | en |
dc.subject.jel | E41 | en |
dc.subject.jel | E32 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Interest rate policy | en |
dc.subject.keyword | real broad money | en |
dc.subject.keyword | financial wealth | en |
dc.subject.keyword | macroeconomic stability | en |
dc.subject.stw | Zinspolitik | en |
dc.subject.stw | Konjunkturpolitik | en |
dc.subject.stw | Geldmenge | en |
dc.subject.stw | Ungleichgewichtstheorie | en |
dc.subject.stw | Konjunkturtheorie | en |
dc.subject.stw | Vermögenseffekt | en |
dc.title | Does broad money matter for interest rate policy? | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 825487390 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:zeiwps:B152002 | en |
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