Victor, Olivo (2011): The role of money in economies with monetary policy regimes that ignore monetary aggregates.
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This paper discusses the important issue of price level determinacy from a theoretical and empirical perspective. The theoretical section relies basically on a dynamic aggregate demand aggregate supply (AD-AS) model. In the empirical section, we try to assess the relative importance of money against interest rate in explaining the evolution of the price level in six countries: Australia, Canada, Chile, South Korea, New Zealand and the United States
|Item Type:||MPRA Paper|
|Original Title:||The role of money in economies with monetary policy regimes that ignore monetary aggregates|
|English Title:||The Role of Money in Economies with Monetary Policy Regimes that Ignore Monetary Aggregates|
|Keywords:||Money, monetary aggregates, interest rate, monetary policy, price level|
|Subjects:||E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy
|Depositing User:||Victor Olivo|
|Date Deposited:||13. Sep 2012 05:59|
|Last Modified:||12. Feb 2013 15:47|
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