Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/152976 
Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
ECB Working Paper No. 542
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
This paper proposes a general equilibrium model with heterogeneous households and a financial market where each financial instrument provides liquidity services in addition to enabling a transfer of purchasing power over time. Importantly, liquidity services may be asymmetric according to whether the financial instrument is held as an asset or as a liability, and are also agentspecific. The main purpose of the study is to develop an analytical framework and a language for evaluating the effect of (broadly defined) liquidity factors on equilibrium rates of return and intertemporal allocation.
Schlagwörter: 
financial market
heterogeneity
liquidity services
Real interest rates
JEL: 
E40
E43
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
510.7 kB





Publikationen in EconStor sind urheberrechtlich geschützt.