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Details for article 71 of 159 found articles
| Title: |
Liquidity effects and habit formation in a sticky price model |
| Author: |
Jung, Yongseung |
| Appeared in: |
International economic journal |
| Paging: | Volume 18 (2004) nr. 4 pages 521-546 |
| Year: |
2004-12 |
| Contents: |
This paper sets up a sticky price model with external habit formations. It shows that the cross-correlation between output and interest rates as well as prices match the data well when there is habit formation. Consumption as well as output display a hump-shaped response to a positive monetary shock when there is habit formation. The paper also shows that the sticky price model with Abel's (1990, 1999) external habit formation succeeds in generating liquidity effects. |
| Publisher: |
Routledge |
| Source file: |
Elektronische Wetenschappelijke Tijdschriften |
Details for article 71 of 159 found articles
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