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picture1_Money Pdf 53219 | Mbinnk


picture2_Money Pdf 53219 | Mbinnk picture3_Money Pdf 53219 | Mbinnk

 93x       Filetype PDF       File size 0.49 MB       Source: web.stanford.edu


File: Money Pdf 53219 | Mbinnk
* MoneyandbankinginaNewKeynesianmodel Monika Piazzesi Ciaran Rogers Martin Schneider Stanford & NBER Stanford Stanford & NBER January 2022 Abstract This paper studies a New Keynesian model with a banking ...

icon picture PDF Filetype PDF | Posted on 20 Aug 2022 | 2 years ago
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...Moneyandbankinginanewkeynesianmodel monika piazzesi ciaran rogers martin schneider stanford nber january abstract this paper studies a new keynesian model with banking system the central bank targets interest rate on short safe bonds that are held by banks to back inside money and hence earn convenience yield for their safety or liquidity operating procedures matter in oor reserve quantity of reserves independent policy tools affect cost corridor increasing theinterbankratebymakingreservesscarceincreasesbanks costofliquidityandgenerates strong pass through other rates return output ination either rules do not respond aggressively such as an peg need lead self fullling uctuations stabilizing effect from endogenous is stronger when there more nominal rigidities balance sheets email addresses edu schneidr we thank roc ar menter mark gertler jennifer lao eric swanson tommaso monacelli well seminar conference par ticipants at belgium canada chicago ecb econometric society world congress fed...
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