학술저널
Interactions between Nominal and Real Variables with Observable Nominal Aggregates
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 7 No.3
-
1994.09305 - 319 (14 pages)
- 0
커버이미지 없음
This paper shows that serially uncorrelated monetary noise can affect output. even though every agent observes the price level and the money stock. if government responds to real shocks imperfectly and agents are asymmetrically informed. Furthermore, procyclical money can be associated with countercyclical price.
Abstract
Ⅰ. Introduction
Ⅱ. Structure of the Economy
Ⅲ. Characteristics of Equilibrium
Ⅳ. Implications for the Comovements among Money, Output, and Prices
Ⅴ. Concluding Remarks
References
(0)
(0)