Search Results - subject_exact:"Neutrality of money"

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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

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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What Can Measured Beliefs Tell Us About Monetary Non-Neutrality?

Afrouzi, Hassan; Flynn, Joel P.; Yang, Choongryul - 2024

Book / Working Paper

Price-level determination under the gold standard

Fernández-Villaverde, Jesús; Sanches, Daniel - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014575698

A note on the neutrality of interest rates

Serletis, Apostolos; Xu, Libo - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015154404

Organizational Targets in General Equilibrium

Flynn, Joel P.; Nikolakoudis, George; Sastry, Karthik A. - 2026

We build a general equilibrium model in which firms endogenously choose whether to target prices or quantities. We characterize how these choices of organizational targets depend on firms' uncertainty about microeconomic and macroeconomic factors. In equilibrium, the transmission of both nominal...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639420

The neutrality of money reconsidered: A statistical equilibrium model of the labor market

Scharfenaker, Ellis; Foley, Duncan K. - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014581814

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

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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Expectations and the Neutrality of Interest Rates

Cochrane, John H. - 2022

Book / Working Paper

Expectations and the Neutrality of Interest Rates

Cochrane, John H. - 2022

Book / Working Paper

Monetary non-neutrality in a multisector economy : the role of risk-sharing

Lee, Jae-Won; Lee, Seunghyeon - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015173427

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Monetary non-neutrality in a multisector economy : the role of risk-sharing

Lee, Jae Won; Lee, Seunghyeon - 2021

Book / Working Paper

Do sticky prices or sticky wages matter for monetary non-neutrality?

Ho, Cheuk Yin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015464256

Testing monetary neutrality with respect to relative price of oil using divisia M4

Baek, Jungho; Caton, James Lee; Miljkovic, Dragan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015405581

Matching friction, coordination, and monetary nonneutrality

Li, King King; Zhu, Tao - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556779

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

A model of the gold standard

Fernández-Villaverde, Jesús; Sanches, Daniel - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014541076

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A model of the gold standard

Fernández-Villaverde, Jesús; Sanches, Daniel - 2022

Book / Working Paper

A model of the gold standard

Fernández-Villaverde, Jesús; Sanches, Daniel - 2022

Book / Working Paper

"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

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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The Markup Elasticity of Monetary Non-Neutrality

Höynck, Christian; Li, Minghao; Zhang, Donghai - 2022

Book / Working Paper

Medium-term money neutrality and the effective lower bound

Eggertsson, Gauti B.; Giannoni, Marc Paolo - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012289796

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Medium-Term Money Neutrality and the Effective Lower Bound

Eggertsson, Gauti B.; Giannoni, Marc Paolo - 2022

Book / Working Paper

Medium-Term Money Neutrality and the Effective Lower Bound

Eggertsson, Gauti B. - 2020

Book / Working Paper

Monetary non-neutrality and stabilisation policies 50 years after Lucas's "expectations" paper : a roundtable discussion

2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013493180

Strategic inattention, inflation dynamics, and the nonneutrality of money

Afrouzi, Hassan - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015144361

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Strategic Inattention, Inflation Dynamics, and the Non-Neutrality of Money

Afrouzi, Hassan - 2023

Book / Working Paper

Strategic inattention, inflation dynamics, and the non-neutrality of money

Afrouzi, Hassan - 2020

Book / Working Paper

Strategic inattention, inflation dynamics and the non-neutrality of money

Afrouzi, Hassan - 2018

Book / Working Paper

Strategic Inattention, Inflation Dynamics, and the Non-Neutrality of Money

Afrouzi, Hassan - 2020

Book / Working Paper

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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The nature of money and the theory of international trade: Thornton and Ricardo

Weber, Isabella - 2021

Book / Working Paper

Government bonds, bank liquidity and non-neutrality of monetary policy in the steady state

Wang, Tianxi - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013162735

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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Inside Money and Monetary Neutrality

Hartley, Peter R. - 1986

Book / Working Paper

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

A framework for studying monetary non-neutrality

Hall, Robert E. - 1989

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10000777125

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A Framework for Studying Monetary Non-Neutrality

Hall, Robert E. - 2021

Book / Working Paper

A Framework for studying Monetary Non-Neutrality

Hall, Robert E. - 1989

Book / Working Paper

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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Menu Costs and the Neutrality of Money

Caplin, Andrew C. - 1987

Book / Working Paper

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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Real Rigidities and the Non-Neutrality of Money

Ball, Laurence M. - 1987

Book / Working Paper

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/10012629453

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Market Structure and Monetary Non-neutrality

Mongey, Simon - 2021

Book / Working Paper

Nonsuperneutrality of money in the Sidrauski model with heterogenous agents

Heer, Burkhard - 2003

Superneutrality is demonstrated to no longer hold in the Sidrauski model as soll 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/10001807091

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Nonsuperneutrality of Money in the Sidrauski Model with Heterogenous Agents

Heer, Burkhard - 2021

Book / Working Paper

Can indeterminacy explain the short-run non-neutrality of money?

De Fiore, Fiorella - 2000

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013434314

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Can Indeterminacy Explain the Short-Run Non-Neutrality of Money?

De Fiore, Fiorella - 2021

Book / Working Paper

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

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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The Implications of an Endogenous Money Supply for Monetary Neutrality

King, Robert G. - 1983

Book / Working Paper

Mussa Puzzle Redux

Itskhoki, Oleg; Mukhin, Dmitry - 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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Mussa puzzle redux

Itskhoki, Oleg; Mukhin, Dmitry - 2021

Book / Working Paper

Mussa Puzzle Redux

Itskhoki, Oleg - 2019

Book / Working Paper

Pricing under fairness concerns

Eyster, Erik; Madarász, Kristóf; Michaillat, Pascal - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012594445

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

The manifesto of money (the neutrality of money)

Vicencio, Eduardo Rivera - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012597746

Monetary paradoxes of Baby-sitting Cooperatives

Zaman, Asad - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013171857

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Monetary paradoxes of baby-sitting cooperatives

Zaman, Asad - 2015

Book / Working Paper

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

The long-run effects of monetary policy

Jordà, Òscar; Singh, Sanjay R.; Taylor, Alan M. - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012180375

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

Blockchain Neutrality

Weinstein, Samuel - 2020

Blockchain technology is transforming how markets work. Blockchains eliminate the need for trusted gatekeepers like banks to execute, verify, and record transactions. In the financial markets, their disruptive potential threatens Wall Street and Silicon Valley venture capitalists. How blockchain...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012841206

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

A Review of Monetary Neutrality Literature

Guo, Yanling - 2020

In this paper, I review some selected literature about or related to the monetary neutrality and show that specific aspects of the monetary (non-)neutrality are actually derived from the underlying welfare consideration and thus their validity or desirability depend on the current state and way...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012831037

Monetary capacity

Bonfatti, Roberto; Brzezinski, Adam; KıvançKaraman, K. - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012314985

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Monetary capacity

Bonfatti, Roberto; Brzezinski, Adam; Karaman, Kivanç; … - 2020

Book / Working Paper

Chapter 3 Expectations and the Neutrality of Money C. 1972: from OLG to Stochastic OLG

Spear, Stephen E.; Young, Warren - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015490612

The Lucas imperfect information model with imperfect common knowledge

Ui, Takashi - 2020

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012237241

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The lucas imperfect information model with imperfect common knowledge

Ui, Takashi - 2019

Book / Working Paper

A economia monetária de Cantillon e o debate moderno entre ortodoxia e heterodoxia

Carvalho, André Roncaglia de; Borges Neto, João Machado - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012211962

Oil prices and money neutrality

Azar, Samih Antoine; Karam, Philip - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012150152

Monetary Non-Neutralities when Credit Constraints Bite

Jaccard, Ivan - 2019

This article studies monetary policy in a model in which credit constraints are the only source of non-neutralities. I show that sizeable real effects can be obtained in a framework that matches the term premium and reproduces an upward-sloping yield curve. Since in the data inflation...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012858706

The existence and persistence of monetary non-neutrality : evidence from a large-scale historical natural experiment

Palma, Nuno - 2019

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011979046

Fixed wage contracts and monetary non-neutrality

Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2019

We study the importance of wage rigidities for the monetary policy transmission mechanism. Using uniquely rich micro data on Swedish wage negotiations, we isolate periods when the labor market is covered by fixed wage contracts. Importantly, negotiations are coordinated in time but their...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10011990062

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Fixed wage contracts and monetary non-neutrality

Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2016

Book / Working Paper

Fixed wage contracts and monetary non-neutrality

Björklund, Maria; Carlsson, Mikael; Nordström Skans, Oskar - 2016

Book / Working Paper

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