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Subject
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Neutrality of money 475 Neutralität des Geldes 475 Theorie 213 Theory 213 Geldpolitik 205 Monetary policy 200 Geldtheorie 159 Monetary theory 159 Estimation 52 Geldmenge 52 Money supply 52 Schätzung 52 Preisrigidität 47 Price stickiness 47 Inflation 43 USA 40 United States 40 Schock 32 Shock 32 Adjustment costs 27 Anpassungskosten 27 Bruttoinlandsprodukt 26 Gross domestic product 26 Business cycle 21 Konjunktur 21 Macroeconomics 20 Makroökonomik 20 Erwartungsbildung 19 Expectation formation 19 monetary neutrality 19 Cointegration 18 History of economic thought 18 Kointegration 18 Ökonomische Ideengeschichte 18 Deutschland 17 Geldmengensteuerung 17 Germany 17 Interest rate 17 Monetary targeting 17 Zins 17
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Online availability
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Free 160 Undetermined 67 CC license 1
Type of publication
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Article 257 Book / Working Paper 246
Type of publication (narrower categories)
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Article in journal 216 Aufsatz in Zeitschrift 216 Working Paper 113 Graue Literatur 111 Non-commercial literature 111 Arbeitspapier 110 Aufsatz im Buch 28 Book section 28 Hochschulschrift 13 Thesis 11 Bibliografie enthalten 5 Bibliography included 5 Collection of articles of several authors 3 Sammelwerk 3 Collection of articles written by one author 2 Conference paper 2 Konferenzbeitrag 2 Sammlung 2 Aufsatzsammlung 1 Case study 1 Fallstudie 1 Interview 1 Systematic review 1 Übersichtsarbeit 1
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Language
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English 443 German 20 Undetermined 16 Spanish 9 Portuguese 5 French 4 Polish 3 Italian 2 Danish 1
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Author
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Nakamura, Emi 10 Jón Steinsson 9 Afrouzi, Hassan 7 Deckers, Thomas 7 Motolese, Maurizio 7 Carvalho, Carlos Viana de 6 Falk, Armin 6 Schildberg-Hörisch, Hannah 6 Serletis, Apostolos 6 Wallace, Frederick H. 6 Williamson, Stephen D. 6 Adão, Bernardino 5 Berentsen, Aleksander 5 Camera, Gabriele 5 Correia, Isabel Horta 5 Eyster, Erik 5 Jin, Hehui 5 King, Robert G. 5 Koustas, Zisimos 5 Madarász, Kristóf 5 Michaillat, Pascal 5 Shelley, Gary L. 5 Teles, Pedro 5 Waller, Christopher 5 Bernanke, Ben 4 Bertocco, Giancarlo 4 Costantini, Mauro 4 Duczynski, Petr 4 Fernández-Villaverde, Jesús 4 Hayakawa, Hiroaki 4 Heer, Burkhard 4 Kurz, Mordecai 4 Lima, Gilberto Tadeu 4 Mihov, Ilian 4 Nason, James Michael 4 Oikawa, Koki 4 Palacio Vera, Alfonso 4 Sanches, Daniel 4 Silveira, Jaylson Jair da 4 Tyran, Jean-Robert 4
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Institution
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National Bureau of Economic Research 16 Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 4 C.E.P.R. Discussion Papers 2 Departamento de Economia, Faculdade de Economia, Administração e Contabilidade 2 Centre for Growth and Business Cycle Research <Manchester> 1 Columbia University / Department of Economics 1 Deutsche Forschungsgemeinschaft 1 Dipartimento di Scienze Economiche "Marco Fanno", Università degli Studi di Padova 1 EconWPA 1 Ekonomiska forskningsinstitutet <Stockholm> 1 European University Institute / Department of Economics 1 Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid 1 Federal Reserve Bank of Richmond 1 Federal Reserve System / Board of Governors 1 Institut für Weltwirtschaft (IfW) 1 Instituto Valenciano de Investigaciones Económicas (IVIE) 1 LIT Verlag 1 Libera università internazionale degli studi sociali Guido Carli 1 National Science Foundation 1 Nationalekonomiska Institutionen, Ekonomihögskolan 1 Sonderforschungsbereich 303 - Information und die Koordination Wirtschaftlicher Aktivitäten, Universität Bonn 1 Sonderforschungsbereich 303 Information und die Koordination wirtschaftlicher Aktivitäten, Universität Bonn 1 Stanford Institute for Economic Policy Research 1 Tilburg University, Center for Economic Research 1 Trinity College <Washington,DC> 1 University of British Columbia / Department of Economics 1 University of Essex / Department of Economics 1 eSocialSciences 1
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Published in...
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NBER working paper series 16 Working paper / National Bureau of Economic Research, Inc. 11 NBER Working Paper 10 Economic modelling 9 Economics letters 8 Discussion paper / Centre for Economic Policy Research 6 Journal of macroeconomics 6 Journal of post-Keynesian economics : JPKE 6 Discussion paper / University of British Columbia, Department of Economics 5 International economic review 5 Journal of monetary economics 5 Discussion papers / CEPR 4 Economic quarterly 4 Economic theory : official journal of the Society for the Advancement of Economic Theory 4 Journal of economic dynamics & control 4 Journal of money, credit and banking : JMCB 4 MPRA Paper 4 Applied economics 3 Brazilian journal of political economy 3 CESifo working papers 3 CFS working paper series 3 Cambridge journal of economics 3 Computational economics 3 Economic inquiry : journal of the Western Economic Association International 3 Economics bulletin : EB 3 Journal of economic methodology 3 Journal of economic theory 3 Macroeconomic dynamics 3 Review of international economics 3 Rivista internazionale di scienze sociali 3 The European journal of the history of economic thought 3 The journal of economics 3 The quarterly journal of economics 3 Theoretical economics letters 3 Acta oeconomica : periodical of the Hungarian Academy of Sciences 2 Análisis económico 2 Bulletin of the Departments of History and Political and Economic Science in Queen's University, Kingston 2 CAMA working paper series 2 CEPR Discussion Papers 2 Carnegie Rochester conference series on public policy : a bi-annual conference proceedings 2
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Source
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ECONIS (ZBW) 478 RePEc 20 EconStor 3 BASE 2
Showing 1 - 50 of 503
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A note on the neutrality of interest rates
Serletis, Apostolos; Xu, Libo - In: Macroeconomic dynamics 28 (2024) 8, pp. 1768-1775
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015154404
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Information and entropy in the labor market : frictional and involuntary unemployment and the neutrality of money
Scharfenaker, Ellis; Foley, Duncan K. - 2025
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015399637
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What can measured beliefs tell us about monetary non-neutrality?
Afrouzi, Hassan; Flynn, Joel P.; Yang, Choongryul - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015056284
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Price-level determination under the gold standard
Fernández-Villaverde, Jesús; Sanches, Daniel - 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014575698
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Expectations and the neutrality of interest rates
Cochrane, John H. - 2023
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014414402
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The neutrality of money reconsidered : a statistical equilibrium model of the labor market
Scharfenaker, Ellis; Foley, Duncan K. - 2023
Economic analysis has approached the problem of the neutrality of money through methods of supply-demand equilibrium in which changes in aggregate demand due to monetary or fiscal policy are equivalent to changes in the denomination of the monetary standard. We re-examine this question using...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014483123
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On the downward rigidity of wages : evidence from an experimental labour market with monetary neutrality
Grundmann, Susanna; Giamattei, Marcus; Lambsdorff, Johann - 2020
We run a gift-exchange experiment under conditions of monetary neutrality: aggregate changes in nominal wages leave aggregate real wages unchanged. To achieve this, an employee's real wage is determined by the nominal wage divided by the price level (the average wages paid to others). Recent...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012163067
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Monetary non-neutrality in a multisector economy : the role of risk-sharing
Lee, Jae-Won; Lee, Seunghyeon - In: Review of economic dynamics : the official journal of … 55 (2025), pp. 1-20
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015173427
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Sticky wages in a world of ideas
Huang, Kevin X. D.; Katayama, Munechika; Shintani, Mototsugu - 2022
The search for new ideas by profit-seeking firms and knowledge spillovers are well-known and fundamental sources of modern economic growth. This paper examines the implications of idea production and knowledge capital for monetary business cycles. We construct a sticky-wage model where workers...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013349602
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Sticky wages in a world of ideas
Huang, Kevin X. D.; Katayama, Munechika; Shintani, Mototsugu - 2022
The search for new ideas by profit-seeking firms and knowledge spillovers are well-known and fundamental sources of modern economic growth. This paper examines the implications of idea production and knowledge capital for monetary business cycles. We construct a sticky-wage model where workers...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012880156
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Expectations and the Neutrality of Interest Rates
Cochrane, John H. - 2022
Lucas (1972) is the pathbreaking analysis of the neutrality and temporary non-neutrality of money. But our central banks set interest rate targets, and do not even pretend to control money supplies. How is inflation determined under an interest rate target? We finally have a complete theory of...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014030012
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The Markup Elasticity of Monetary Non-Neutrality
Höynck, Christian; Li, Minghao; Zhang, Donghai - 2022
Firms’ market power, measured by markups, has risen substantially and unequally across sectors. To evaluate the implications of these trends for monetary non-neutrality, we develop a quantitative menu cost model that covers multiple sectors with heterogeneous degrees of market competition. Two...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014237117
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"Neutrality of money" revisited: an integrative economic ethics and post-Keynesian perspective
Mauchle, Urs - 2022
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013348698
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A model of the gold standard
Fernández-Villaverde, Jesús; Sanches, Daniel - 2022
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013382300
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The markup elasticity of monetary non-neutrality
Höynck, Christian; Li, Minghao; Zhang, Donghai - 2022
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015053838
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Hysteresis, endogenous growth, and monetary policy
Amador, Sebastián - 2022
I provide evidence of substantial hysteresis (i.e., a situation in which temporary shocks have longrun effects) from monetary shocks on two sources of endogenous growth; human capital and technological adoption. This contribution is the first to test for the presence of this phenomenon in direct...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013179301
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Medium-Term Money Neutrality and the Effective Lower Bound
Eggertsson, Gauti B.; Giannoni, Marc Paolo - 2022
Conventional wisdom suggests that medium-term money neutrality imposes strong limitations on the effects of monetary policy. The point of this paper is that models with medium- and long-term money neutrality are prone to generate non-existence of equilibria at the effective lower bound (ELB) on...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014094466
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The lasting influence of Robert E. Lucas on Chicago economics
Uhlig, Harald - 2022
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012802977
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Sticky wages in a world of ideas
Huang, Kevin X. D.; Katayama, Munechika; Shintani, Mototsugu - In: Economic inquiry 60 (2022) 4, pp. 1757-1781
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013392260
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Lucas's way to his monetary theory of large-scale fluctuations
Galbács, Peter - In: Journal of economic methodology 29 (2022) 1, pp. 4-16
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013170083
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The lasting influence of Robert E. Lucas on Chicago economics
Uhlig, Harald - In: Journal of economic methodology 29 (2022) 1, pp. 48-65
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013170089
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Strategic inattention, inflation dynamics, and the nonneutrality of money
Afrouzi, Hassan - In: Journal of political economy 132 (2024) 10, pp. 3378-3420
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015144361
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Changes in economic and financial structure and the international integration of capital markets over the past century and a half
Lothian, James R. - In: Handbook of financial integration, (pp. 240-254). 2024
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015078573
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What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?
Afrouzi, Hassan; Flynn, Joel P.; Yang, Choongryul - National Bureau of Economic Research - 2024
This paper studies how measured beliefs can be used to identify monetary non-neutrality. In a general equilibrium model with both nominal rigidities and endogenous information acquisition, we analytically characterize firms' optimal dynamic information policies and how their beliefs affect...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014576569
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The business cycle in the representation of Robert E. Lucas, Jr.
Luca, Mihai Dumitru; Cariman, Gabriel - 2021
In various forms, economists are still taking sustained action to find specific answers to questions related to the issue of economic fluctuations. In this context of continuing concerns, both the "old" classics and the "new" classics have made substantial progress in their own theories of the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012426810
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Decentralization Neutralizers
Kaal, Wulf A. - 2021
Decentralization cannot evolve in a vacuum. As decentralized technology becomes increasingly available, its application, adaptation, and evolution depend on society’s acceptance and use of the technology. While improved decentralized incentive designs can accelerate adoption, design alone will...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013238167
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The Implications of an Endogenous Money Supply for Monetary Neutrality
King, Robert G.; Trehan, Bharat - 2021
This paper examines the implications of an endogenous money supply for the perceived(by econometricians) and actual nonneutrality of money in rational expectations models of the class put forward by Lucas (1972, 1973) and Barro(1976, 1980) that stress incomplete information. First,if there is...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013239178
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Inside Money and Monetary Neutrality
Hartley, Peter Reginald; Walsh, Carl E. - 2021
This paper examines the interaction between the financial and real sectors of the economy within the framework of a stochastic, rational expectation model that distinguishes between inside and outside money. The model also can be used to study the impact of variations in the degree of...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013244387
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Liquidity Constraint of Banks and Non-Neutrality of Monetary Policy
Wang, Tianxi - 2021
This paper studies non-neutrality of monetary policy incorporating three facts: The majority of media of exchange is not fiat money but bank liability; fiat money is largely used by banks to meet liquidity demand; and banks extensively use government bonds for liquidity management. It finds that...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013245908
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A Framework for Studying Monetary Non-Neutrality
Hall, Robert E. - 2021
This paper sets forth a simple general structural model of aggregate output, the interest rate, and the price level. The core of the model is the determination of the level of output as a product-market equilibrium, either competitive or oligopolistic, possible indeterminate because of...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013248559
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Menu Costs and the Neutrality of Money
Caplin, Andrew; Spulber, Daniel F. - 2021
A model of endogenous price adjustment under money growth is presented. Firms follow (s, S) pricing policies and price revisions are imperfectly synchronized. In the aggregate, price stickiness disappears and money is neutral. The connection between firm price adjustment and relative price...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013231431
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Government bonds, bank liquidity and non-neutrality of monetary policy in the steady state
Wang, Tianxi - University of Essex / Department of Economics - 2021
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013162735
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Market Structure and Monetary Non-neutrality
Mongey, Simon - 2021
I study a general equilibrium menu cost model with a continuum of sectors, idiosyncratic and aggregate shocks, and the novel feature that each sector consists of strategically engaged firms. Compared to an economy with monopolistically competitive sectors—separately parameterized to match the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013212404
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Real Rigidities and the Non-Neutrality of Money
Ball, Laurence M.; Romer, David - 2021
Rigidities in real prices are not sufficient to create rigidities in nominal prices and real effects of nominal shocks. And, by themselves, small frictions in nominal adjustment, such as costs of changing prices, create only small non-neutralities. But this paper shows that substantial nominal...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013234378
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Mussa Puzzle Redux
Itskhoki, Oleg; Mukhin, Dmitry - National Bureau of Economic Research - 2021
The Mussa (1986) puzzle is the observation of a sharp and simultaneous increase in the volatility of both nominal and real exchange rates following the end of the Bretton Woods System of pegged exchange rates in 1973. It is commonly viewed as a central piece of evidence in favor of monetary...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012585434
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Market Structure and Monetary Non-neutrality
Mongey, Simon - National Bureau of Economic Research - 2021
I study a general equilibrium menu cost model with a continuum of sectors, idiosyncratic and aggregate shocks, and the novel feature that each sector consists of strategically engaged firms. Compared to an economy with monopolistically competitive sectors--separately parameterized to match the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012629453
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Pricing under fairness concerns
Eyster, Erik; Madarász, Kristóf; Michaillat, Pascal - In: Journal of the European Economic Association : JEEA 19 (2021) 3, pp. 1853-1898
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012594445
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The manifesto of money (the neutrality of money)
Vicencio, Eduardo Rivera - In: International journal of critical accounting : IJCA 12 (2021) 3, pp. 229-258
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012597746
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The nature of money and the theory of international trade : Thornton and Ricardo
Weber, Isabella - 2021
A rich recent literature reinvestigates the nature of money, but little attention has been paid to the ramifications of the ways in which we theorize money for the theory of international trade. This paper examines the logical relationship between the neutrality of money and self-balancing trade...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012664111
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A strategic analysis of "expectations and the neutrality of money"
Bajraj, Gent; Wallace, Neil - 2021
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012484546
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Nonsuperneutrality of Money in the Sidrauski Model with Heterogenous Agents
Heer, Burkhard - 2021
Superneutrality is demonstrated to no longer hold in the Sidrauski model as soon as agents are heterogenous with regard to their productivity. However, quantitative effects of inflation on the capital stock are found to be rather small
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013319839
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Can Indeterminacy Explain the Short-Run Non-Neutrality of Money?
De Fiore, Fiorella - 2021
This paper analyzes the possibility to generate indeterminacy and equilibria with short-run non-neutrality of money in a model with flexible prices, constant returns to scale in production and constant money growth rules. The model recovers previous results in the literature as particular cases....
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013320308
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Monetary non-neutrality in a multisector economy : the role of risk-sharing
Lee, Jae Won; Lee, Seunghyeon - 2021
We show that the extent of risk-sharing among heterogeneous workers is adeterminant of the degree of monetary non-neutrality in a multisector sticky-price model. Workers are employed in different sectors of the economy and, as a consequence, earn different wages. The inability of workers to...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013194728
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The business cycle in the representation of Robert E. Lucas, Jr.
Luca, Mihai Dumitru; Cariman, Gabriel - 2021
In various forms, economists are still taking sustained action to find specific answers to questions related to the issue of economic fluctuations. In this context of continuing concerns, both the "old" classics and the "new" classics have made substantial progress in their own theories of the...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015335806
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A model of the gold standard
Fernández-Villaverde, Jesús; Sanches, Daniel - In: Journal of economic theory 214 (2023), pp. 1-34
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014541076
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Persistent monetary non-neutrality in an estimated menu cost model with partially costly information
Bonomo, Marco Antonio; Carvalho, Carlos Viana de; … - In: American economic journal 15 (2023) 2, pp. 466-505
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014316879
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Strategic Inattention, Inflation Dynamics, and the Non-Neutrality of Money
Afrouzi, Hassan - National Bureau of Economic Research - 2023
This paper studies how competition affects firms' expectations in a new dynamic general equilibrium model with rational inattention and oligopolistic competition where firms acquire information about their competitors' beliefs. In the model, firms with fewer competitors are less attentive to...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014421221
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On the downward rigidity of wages: Evidence from an experimental labour market with monetary neutrality
Grundmann, Susanna; Giamattei, Marcus; Graf Lambsdorff, … - 2020
We run a gift-exchange experiment under conditions of monetary neutrality: aggregate changes in nominal wages leave aggregate real wages unchanged. To achieve this, an employee's real wage is determined by the nominal wage divided by the price level (the average wages paid to others). Recent...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012164845
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Money Creation, Bank Liquidity and Non-neutrality of Monetary Policy
Wang, Tianxi - 2020
This paper studies the implication of banks' money creation and liquidity management for monetary policy. When borrowing fiat money banks use a government bond as collateral, which pays a fixed stream of nominal dividend. A variation in fiat money's quantity alters its unit real value, thereby...
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012846341
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Modeling Money Non-Neutrality in Macroeconomics : The Role of Money Illusion
Rizzo, Leonardo - 2020
Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012828406
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