Nonneutrality of money in dispersion: Hume revisited

DOI10.1111/IERE.12387MaRDI QIDQ3299202zbMATH OpenOpenAlexFDO

Authors Gu Jin, Tao Zhu

Publication date 17 July 2020

Published in International Economic Review (Search for Journal in Brave)

Full work available at URL https://mpra.ub.uni-muenchen.de/79561/1/MPRA_paper_79561.pdf

zbMATH Keywords

decentralized tradeinflation ratemoney injectionprice response

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Money, price dispersion and welfare
• Money, price dispersion and welfare
• Non-neutral responses to money supply shocks when consumption and leisure are Pareto substitutes
• Incomplete markets and the output-inflation tradeoff
• On the non-neutrality of money with incomplete markets

Cited in

(2)

• Frictional asset markets and the liquidity channel of monetary policy
• Heterogeneity, decentralized trade, and the long-run real effects of inflation

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