Title of article
The extensivemarginandmonetarypolicy
Author/Authors
Paul R. Bergin، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
16
From page
1222
To page
1237
Abstract
The creationofnewfirms,referredtoastheextensivemargin,isasignificantbut
overlookeddimensionofmonetarypolicy.AmonetaryVARdocumentsthatmonetary
policyhassignificanteffectsonfirmcreation.Ananalyticallytractablemodelcombining
sticky pricesandfirmentryshowsthatentryaltersthetransmissionofmonetarypolicy
innovations,actingmuchlikeatypeofinvestmentinmorestandardmodels.Monetary
policyrulesthatoffsettheuncertaintyofproductivityshockscanraisethemeanlevelof
entryandtherebywelfare,suggestinganewmotivationforstabilizationpolicy
Keywords
ProductivityMonetary policyMarket dynamics
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846245
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