Projects per year
Abstract / Description of output
This paper presents a model of a monetary economy where there are differences in liquidity across assets. Money circulates because it is more liquid than other assets, not because it has any special function. The model is used to investigate how aggregate activity and asset prices fluctuate with shocks to productivity and liquidity and to examine what role government policy might have through open-market operations that change the mix of assets held by the private sector.
| Original language | English |
|---|---|
| Pages (from-to) | 2926-2966 |
| Number of pages | 41 |
| Journal | Journal of Political Economy |
| Volume | 127 |
| Issue number | 6 |
| Early online date | 18 Oct 2019 |
| DOIs | |
| Publication status | Published - Dec 2019 |
Fingerprint
Dive into the research topics of 'Liquidity, business cycles, and monetary policy'. Together they form a unique fingerprint.Projects
- 1 Finished
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MacCaLM: Labour and Credit Market Foundations of the Macroeconomy
Moore, J., Belot, M., Elsby, M., Guell, M., Kircher, P., Rodriguez Mora, S., Snell, A., Thomas, J., Visschers, L., Worrall, T. & Zymek, R.
1/06/15 → 31/05/22
Project: Research
Research output
- 1 Working paper
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Liquidity, Business Cycles and Monetary Policy
Hardman-Moore, J. & Kiyotaki, N., Mar 2012, National Bureau of Economic Research, 59 p. (NBER Working Paper Series; no. Working Paper 17934).Research output: Working paper
Activities
- 2 Invited talk
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Liquidity, Business Cycles and Monetary PolicyClarendon - Lecture 2
John Moore (Contributor)
27 Nov 2001Activity: Academic talk or presentation types › Invited talk
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Clarendon Lectures in Economics
John Moore (Speaker)
27 Nov 2001Activity: Academic talk or presentation types › Invited talk
