Publicação
Responses of inflation and output to monetary shocks in a Baumol-Tobin model
| dc.contributor.advisor | Adão, Bernardino | |
| dc.contributor.author | Verheij, Thomas Joel | |
| dc.date.accessioned | 2013-01-04T11:35:16Z | |
| dc.date.available | 2013-01-04T11:35:16Z | |
| dc.date.issued | 2012-09 | |
| dc.description | Mestrado em Economia Monetária e Financeira | por |
| dc.description.abstract | The question of how monetary policy a¤ects the main economic variables remains one of the most important questions of the economic literature. With this dissertation I will try to contribute to the literature to answer this question. I will create a general equilibrium model with market segmentation based on the model of Alvarez et al (2009). The agents of the model will make transactions between money and bonds every N periods. The money is needed to buy goods but does not receive interest. The novelty of my model is that production will be endogenous. I will introduce a shock to the nominal interest rate and obtain the responses of in ation and output. The main conclusions are twofold. In the rst place, I obtain that the shock to the nominal interest rate has real e¤ects because in ation responds sluggishly. In the second place, I obtain that the response of in ation changes signi cantly when production is endogenous instead of exogenous. | por |
| dc.identifier.citation | Verheij, Thomas Joel. 2012. "Responses of inflation and output to monetary shocks in a Baumol-Tobin model". Dissertação de Mestrado. Universidade Técnica de Lisboa. Instituto Superior de Economia e Gestão. | por |
| dc.identifier.uri | http://hdl.handle.net/10400.5/4985 | |
| dc.language.iso | eng | por |
| dc.publisher | Instituto Superior de Economia e Gestão | por |
| dc.subject | cash-in-advance models | por |
| dc.subject | market segmentation | por |
| dc.subject | interest rate shocks | por |
| dc.title | Responses of inflation and output to monetary shocks in a Baumol-Tobin model | por |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | por |
| rcaap.type | masterThesis | por |