Seasonal Monetary Policy: A Reprint from "Economic Perspectives"
Aug 2008 · DIANE Publishing
Ebook
19
Pages
About this ebook
The authors use a dynamic general equilibrium cash-in-advance model to study the role of monetary policy in U.S. seasonal cycles. They find that the seasonal monetary policy regime is largely irrelevant: Smoothing interest rates across the seasons or following a constant growth rate of money lead to basically the same real allocations. Only nominal interest rates are significantly affected. Tables and graphs.
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