Title of article :
NewKeynesianmodels,durablegoods,andcollateralconstraints$
Author/Authors :
TommasoMonacelli ، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2008
Pages :
13
From page :
242
To page :
254
Abstract :
Econometricevidencesuggeststhat,inresponsetomonetarypolicyshocks,durableand non-durablespendingco-movepositively,anddurablespendingexhibitsamuchlarger sensitivitytotheshocks.Astandardtwo-sectorNewKeynesianmodelwithperfect financialmarketsisatoddswiththesefacts.Theintroductionofaborrowingconstraint, wheredurablesplaytheroleofcollateralassets,helpsinreconcilingthemodelwiththe empiricalevidence
Keywords :
Durable goodsStickypricesCollateralconstraint
Journal title :
Journal of Monetary Economics
Serial Year :
2008
Journal title :
Journal of Monetary Economics
Record number :
846289
Link To Document :
https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=846289
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