Liquidity effects in non-Ricardian economies

被引:2
作者
Bénassy, JP [1 ]
机构
[1] ENS, CEPREMAP, F-75014 Paris, France
关键词
liquidity effect; non-Ricardian economies;
D O I
10.1111/j.1467-9442.2006.00440.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
It has often been found difficult to generate a liquidity effect (i.e., a negative effect of monetary injections on the nominal interest rate) in the traditional "Ricardian" stochastic dynamic model with a single infinitely lived household. We show that moving to a non-Ricardian environment where new agents enter the economy in each period allows such a liquidity effect to be generated.
引用
收藏
页码:65 / 79
页数:15
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