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Interactions between Nominal and Real Variables with Observable Nominal Aggregates
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- Authors
- Issue Date
- 1994-07
- Citation
- Seoul Journal of Economics, Vol.7 No.3, pp. 305-324
- Keywords
- monetary noise ; procyclical money ; island type
- Abstract
- This paper shows that serially uncorrelated monetary noise can affect output. even though every agent observes the price level and the money stock. if government responds to real shocks imperfectly and agents are asymmetrically informed. Furthermore, procyclical money can be associated with countercyclical price.
- ISSN
- 1225-0279
- Language
- English
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