Registro completo de metadatos
| Campo DC | Valor |
|---|---|
| dc.contributor.author | Andrés, Javier |
| dc.contributor.author | López Salido, J. David |
| dc.contributor.author | Nelson, Edward |
| dc.coverage.spatial | Zona euro |
| dc.coverage.spatial | Estados Unidos |
| dc.date.accessioned | 2019-08-10T17:52:35Z |
| dc.date.available | 2019-08-10T17:52:35Z |
| dc.date.issued | 2008-03-04 |
| dc.identifier.issn | ISSN: 0213-2710 (en papel) |
| dc.identifier.issn | ISSN: 1579-8666 (en línea) |
| dc.identifier.uri | https://repositorio.bde.es/handle/123456789/6716 |
| dc.description | Incluye bibliografía |
| dc.description.abstract | We examine the role of money in three environments: the New Keynesian model with separable utility and static money demand |
| dc.description.abstract | a nonseparable utility variant with habit formation |
| dc.description.abstract | and a version with adjustment costs for holding real balances. The last two variants imply forward-looking behavior of real money balances, with forecasts of future interest rates entering current portfolio decisions. We conduct a structural econometric analysis of the U.S. and euro area economies. FIML estimates confirm the forward-looking character of money demand. A consequence is that real money balances are valuable in anticipating future variations in the natural interest rate |
| dc.format.extent | 51 p. : fórmulas, gráf., tab. |
| dc.language.iso | eng |
| dc.publisher | Banco de España |
| dc.relation.ispartof | Documentos de Trabajo / Banco de España, 0805 |
| dc.rights | Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0) |
| dc.rights | In Copyright - Non Commercial Use Permitted |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES |
| dc.rights.uri | http://rightsstatements.org/vocab/InC-NC/1.0/ |
| dc.subject | Money |
| dc.subject | Natural rate |
| dc.subject | New Keynesian models |
| dc.title | Money and the natural rate of interest : structural estimates for the United States and the Euro Area |
| dc.type | Documento de trabajo |
| dc.identifier.bdebib | 000200983 |
| dc.identifier.bdepub | DTRA-200805-eng |
| dc.subject.bde | Oferta y demanda monetarias |
| dc.subject.bde | Política monetaria |
| dc.publisher.bde | Madrid : Banco de España, 2008 |
| dc.subject.jel | E51 |
| dc.subject.jel | E52 |
