Interest, Reserve and Prices

Benigno, Pierpaolo; Benigno, Gianluca (2021). Interest, Reserve and Prices

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We would like to propose a new framework for monetary policy analysis that encompasses, as a special case, the Neo-Wicksellian paradigm. A general form of an aggregate-demand equation reveals a role for liquidity, as well as less effective movements in future real rates with respect to current ones, in stimulating aggregate demand. The quantity of reserves and their interest rate both matter for determining inflation and economic activity

Item Type:

Working Paper

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics

UniBE Contributor:

Benigno, Pierpaolo

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

Language:

English

Submitter:

Dino Collalti

Date Deposited:

31 Jan 2022 09:21

Last Modified:

05 Dec 2022 16:01

URI:

https://boris.unibe.ch/id/eprint/163808

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