Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
967351 | Journal of Monetary Economics | 2007 | 26 Pages |
Abstract
The inability of sticky-price monetary business cycle models to generate liquidity effects has been extensively documented by a number of authors. This paper develops a sticky-price monetary business cycle model with investment gestation lags and habit-persistence in consumption that is capable of generating an empirically plausible liquidity effect.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Rochelle M. Edge,