Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/39547 
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dc.contributor.authorBrückner, Matthiasen
dc.contributor.authorSchabert, Andreasen
dc.date.accessioned2010-09-01T09:47:43Z-
dc.date.available2010-09-01T09:47:43Z-
dc.date.issued2002-
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.en
dc.language.isoengen
dc.publisher|aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonnen
dc.relation.ispartofseries|aZEI Working Paper |xB 15-2002en
dc.subject.jelE52en
dc.subject.jelE51en
dc.subject.jelE41en
dc.subject.jelE32en
dc.subject.ddc330en
dc.subject.keywordInterest rate policyen
dc.subject.keywordreal broad moneyen
dc.subject.keywordfinancial wealthen
dc.subject.keywordmacroeconomic stabilityen
dc.subject.stwZinspolitiken
dc.subject.stwKonjunkturpolitiken
dc.subject.stwGeldmengeen
dc.subject.stwUngleichgewichtstheorieen
dc.subject.stwKonjunkturtheorieen
dc.subject.stwVermögenseffekten
dc.titleDoes broad money matter for interest rate policy?-
dc.type|aWorking Paperen
dc.identifier.ppn825487390en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zeiwps:B152002en

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