Money and exchange rates in the Grossman-Weiss-Rotemberg model
We analyze the impact of monetary policy on inflation, interest rates and exchange rates in a model with segmented asset markets developed by Grossman and Weiss (1983) and Rotemberg (1984, 1985). We find parameters for which real and nominal exchange rates in this model are (1) much more volatile th...
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| Formato: | Capítulo de libro |
| Lenguaje: | Inglés |
| Publicado: |
Elsevier
1997
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| Acceso en línea: | Registro en Scopus DOI Handle Registro en la Biblioteca Digital |
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| LEADER | 05401caa a22006257a 4500 | ||
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| 001 | PAPER-20191 | ||
| 003 | AR-BaUEN | ||
| 005 | 20230518205135.0 | ||
| 008 | 190411s1997 xx ||||fo|||| 00| 0 eng|d | ||
| 024 | 7 | |2 scopus |a 2-s2.0-0031537176 | |
| 040 | |a Scopus |b spa |c AR-BaUEN |d AR-BaUEN | ||
| 030 | |a JMOED | ||
| 100 | 1 | |a Alvarez, F. | |
| 245 | 1 | 0 | |a Money and exchange rates in the Grossman-Weiss-Rotemberg model |
| 260 | |b Elsevier |c 1997 | ||
| 270 | 1 | 0 | |m Atkeson, A.; Department of Economics, Univ. of Minnesota, 1035 Management and Economics, 271 19th Avenue South, Minneapolis, MN 55455, United States; email: atkeson@atlas.socsci.umn.edu |
| 506 | |2 openaire |e Política editorial | ||
| 504 | |a Baumol, W.J., The transactions demand for cash: An inventory theoretic approach (1952) Quarterly Journal of Economics, 66, pp. 545-556 | ||
| 504 | |a Baxter, M., Fisher, S.N., King, R.G., Rouwenhorst, K.G., (1991) The Liquidity Effect in General Equilibrium, , Mimeo, University of Virginia | ||
| 504 | |a Baxter, M., Stockman, A.C., Business cycles and the exchange rate regime: Some international evidence (1989) Journal of Monetary Economics, 23 (3), pp. 377-400 | ||
| 504 | |a Flood, R.P., Rose, A.K., Fixing exchange rates: A virtual quest for fundamentals (1995) Journal of Monetary Economics, 36 (1), pp. 3-38 | ||
| 504 | |a Fuerst, T., Liquidity, loanable funds, and real activity (1992) Journal of Monetary Economics, 29, pp. 3-24 | ||
| 504 | |a Grilli, V., Roubini, N., Liquidity and exchange rates (1992) Journal of International Economics, 32, pp. 339-352 | ||
| 504 | |a Grossman, S., Weiss, L., Transactions based model of the monetary transmission mechanism (1983) American Economic Review, 73, pp. 871-880 | ||
| 504 | |a Jovanovic, B., Inflation and welfare in the steady state (1982) Journal of Political Economy, 90 (3), pp. 561-577 | ||
| 504 | |a Lucas R.E., Jr., Liquidity and interest rates (1990) Journal of Economic Theory, 50, pp. 237-264 | ||
| 504 | |a Meese, R., Rogoff, K., Empirical exchange rate models of the seventies: Do they fit out of sample? (1983) International Economic Review, 14, pp. 3-24 | ||
| 504 | |a Mussa, M., Nominal exchange rate regimes and the behavior of real exchange rates (1986) Carnegie Rochester Conference Series on Public Policy, 25, pp. 117-214 | ||
| 504 | |a Romer, D., A simple general equilibrium version of the Baumol Tobin model (1986) Quarterly Journal of Economics, 101 (4), pp. 663-685 | ||
| 504 | |a Rotemberg, J., A monetary equilibrium with transactions costs (1984) Journal of Political Economy, 92 (1), pp. 40-58 | ||
| 504 | |a Rotemberg, J., Money and the terms of trade (1985) Journal of International Economics, 19, pp. 141-160 | ||
| 504 | |a Schlagenhauf, D.E., Wrase, J.M., Liquidity and real activity in a simple open economy model (1995) Journal of Monetary Economics, 35 (3), pp. 431-462 | ||
| 504 | |a Tobin, J., The interest elasticity of the transactions demand for cash (1956) Review of Economics and Statistics, 38 (3), pp. 241-247 | ||
| 520 | 3 | |a We analyze the impact of monetary policy on inflation, interest rates and exchange rates in a model with segmented asset markets developed by Grossman and Weiss (1983) and Rotemberg (1984, 1985). We find parameters for which real and nominal exchange rates in this model are (1) much more volatile than interest rates, inflation rates, and money growth rates, (2) highly correlated with each other, and (3) highly persistent. While this model fails to match the data in other important respects, it illustrates a potentially useful approach to modelling exchange rate behavior. © 1997 Elsevier Science B.V. All rights reserved. |l eng | |
| 536 | |a Detalles de la financiación: National Science Foundation | ||
| 536 | |a Detalles de la financiación: Andrew Atkeson thanks the National Science Foundation and the Sloan Foundation for financial support. | ||
| 593 | |a Department of Economics, University of Chicago, Chicago, IL 60637, United States | ||
| 593 | |a Universidad Torcuato di Tella, Buenos Aires, 1428, Argentina | ||
| 593 | |a Department of Economics, University of Minnesota, Minneapolis, MN 55455, United States | ||
| 593 | |a National Bureau of Economic Research, Cambridge, MA 02138, United States | ||
| 593 | |a Department of Economics, Univ. of Minnesota, 1035 Management and Economics, 271 19th Avenue South, Minneapolis, MN 55455, United States | ||
| 690 | 1 | 0 | |a EXCHANGE RATES |
| 690 | 1 | 0 | |a INTEREST RATES |
| 690 | 1 | 0 | |a LIQUIDITY EFFECT |
| 690 | 1 | 0 | |a MONETARY POLICY |
| 690 | 1 | 0 | |a SEGMENTED MARKETS |
| 700 | 1 | |a Atkeson, A. | |
| 773 | 0 | |d Elsevier, 1997 |g v. 40 |h pp. 619-640 |k n. 3 |p J. Monet. Econ. |x 03043932 |t Journal of Monetary Economics | |
| 856 | 4 | 1 | |u https://www.scopus.com/inward/record.uri?eid=2-s2.0-0031537176&doi=10.1016%2fS0304-3932%2897%2900054-8&partnerID=40&md5=5e232ad42d8fbea38f335fef449782f3 |y Registro en Scopus |
| 856 | 4 | 0 | |u https://doi.org/10.1016/S0304-3932(97)00054-8 |y DOI |
| 856 | 4 | 0 | |u https://hdl.handle.net/20.500.12110/paper_03043932_v40_n3_p619_Alvarez |y Handle |
| 856 | 4 | 0 | |u https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_03043932_v40_n3_p619_Alvarez |y Registro en la Biblioteca Digital |
| 961 | |a paper_03043932_v40_n3_p619_Alvarez |b paper |c PE | ||
| 962 | |a info:eu-repo/semantics/article |a info:ar-repo/semantics/artículo |b info:eu-repo/semantics/publishedVersion | ||
| 999 | |c 81144 | ||