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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Enders, Zeno | en |
dc.date.accessioned | 2010-04-20 | - |
dc.date.accessioned | 2010-08-17T12:28:20Z | - |
dc.date.available | 2010-08-17T12:28:20Z | - |
dc.date.issued | 2010 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aUniversity of Bonn, Bonn Graduate School of Economics (BGSE) |cBonn | en |
dc.relation.ispartofseries | |aBonn Econ Discussion Papers |x08/2010 | en |
dc.subject.jel | E31 | en |
dc.subject.jel | E32 | en |
dc.subject.jel | E51 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Segmented Asset Markets | en |
dc.subject.keyword | Monetary Policy | en |
dc.subject.keyword | Countercyclical Markups | en |
dc.subject.keyword | Liquidity Effect | en |
dc.subject.keyword | Limited Participation | en |
dc.subject.stw | Geldpolitik | en |
dc.subject.stw | Transmissionsmechanismus | en |
dc.subject.stw | Agent-based Model | en |
dc.subject.stw | Konsumentenverhalten | en |
dc.subject.stw | Kapitalanlage | en |
dc.subject.stw | Vermögenseffekt | en |
dc.subject.stw | Extensives Spiel | en |
dc.subject.stw | Mark-up Pricing | en |
dc.subject.stw | Inflation | en |
dc.subject.stw | Konjunktur | en |
dc.subject.stw | Theorie | en |
dc.title | Heterogeneous consumers, segmented asset markets, and the effects of monetary policy | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 623967480 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:bonedp:082010 | - |
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