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001385704 020__ $$a9780262268080$$q(electronic bk.)
001385704 020__ $$a0262268086$$q(electronic bk.)
001385704 020__ $$a9781429465533
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001385704 020__ $$z0262026139$$q(alk. paper)
001385704 020__ $$z9780262026130$$q(hbk.)
001385704 035__ $$a(OCoLC)123915772$$z(OCoLC)290542008$$z(OCoLC)475316654$$z(OCoLC)475613179$$z(OCoLC)648223258$$z(OCoLC)655177420$$z(OCoLC)860365416$$z(OCoLC)939263596$$z(OCoLC)961552520$$z(OCoLC)962681872$$z(OCoLC)988415096$$z(OCoLC)992093447$$z(OCoLC)992103522$$z(OCoLC)1037923264$$z(OCoLC)1038684394$$z(OCoLC)1055393639$$z(OCoLC)1058899847$$z(OCoLC)1064193922$$z(OCoLC)1081291206$$z(OCoLC)1097085891
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001385704 1001_ $$aBénassy, Jean-Pascal.
001385704 24510 $$aMoney, interest, and policy :$$bdynamic general equilibrium in a non-Ricardian world /$$cJean-Pascal Bénassy.
001385704 260__ $$aCambridge, Mass. :$$bMIT Press,$$c©2007.
001385704 300__ $$a1 online resource (xvii, 196 pages) :$$billustrations
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001385704 506__ $$aAccess limited to authorized users.
001385704 520__ $$aAn important recent advance in macroeconomics is the development of dynamic stochastic general equilibrium (DSGE) macromodels. The use of DSGE models to study monetary policy, however, has led to paradoxical and puzzling results on a number of central monetary issues including price determinacy and liquidity effects. In Money, Interest, and Policy, Jean-Pascal Benassy argues that moving from the standard DSGE models - which he calls "Ricardian" because they have the famous "Ricardian equivalence" property-to another, "non-Ricardian" model would resolve many of these issues. A Ricardian model represents a household as a homogeneous family of infinitely lived individuals, and Benassy demonstrates that a single modification-the assumption that new agents are born over time (which makes the model non-Ricardian)-can bridge the current gap between monetary intuitions and facts, on one hand, and rigorous modeling, on the other.After comparing Ricardian and non-Ricardian models, Benassy introduces a model that synthesizes the two approaches, incorporating both infinite lives and the birth of new agents. Using this model, he considers a number of issues in monetary policy, including liquidity effects, interest rate rules and price determinacy, global determinacy, the Taylor principle, and the fiscal theory of the price level. Finally, using a simple overlapping generations model, he analyzes optimal monetary and fiscal policies, with a special emphasis on optimal interest rate rules.
001385704 588__ $$aOCLC-licensed vendor bibliographic record.
001385704 650_0 $$aMoney$$xMathematical models.
001385704 650_0 $$aEquilibrium (Economics)$$xMathematical models.
001385704 653__ $$aECONOMICS/Political Economy
001385704 653__ $$aECONOMICS/Macroeconomics
001385704 655_0 $$aElectronic books
001385704 852__ $$bebk
001385704 85640 $$3MIT Press$$uhttps://univsouthin.idm.oclc.org/login?url=https://doi.org/10.7551/mitpress/4760.001.0001?locatt=mode:legacy$$zOnline Access through The MIT Press Direct
001385704 85642 $$3OCLC metadata license agreement$$uhttp://www.oclc.org/content/dam/oclc/forms/terms/vbrl-201703.pdf
001385704 909CO $$ooai:library.usi.edu:1385704$$pGLOBAL_SET
001385704 980__ $$aBIB
001385704 980__ $$aEBOOK
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001385704 983__ $$aOnline