Benigno, Pierpaolo; Benigno, Gianluca (2021). Interest, Reserve and Prices
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Official URL: https://portal.cepr.org/discussion-paper/18494
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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