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Short-Run Dynamics in a Search-Theoretic Model of Monetary Exchange

18 Nov 2020

'We study the short-run effects of monetary policy in a search-theoretic monetary model in which agents are subject to idiosyncratic liquidity shocks as well as aggregate monetary shocks. Namely, we analyze the role of the endogenous non-degenerate distribution of liquidity, liquidity constraints, and decentralized trade in the transmission and propagation of monetary policy shocks'--Abstract.
growth economics economy inflation monetary policy science and technology economic equilibrium economic growth macroeconomics mathematics prices economies market (economics) in?ation long run and short run equilibria gaussian kernel density estimation new-keynesian impulse response state space quadrature methods
ISSN
17019397
Pages
46
Published in
Ottawa, ON, CA

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