Lumpy Durable Consumption Demand and the Limited Ammunition of Monetary Policy
收藏NBER2019-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w26175
下载链接
链接失效反馈官方服务：
资源简介：
In a fixed-cost model of durable consumption demand, we show that an important channel of monetary policy transmission is to prompt households to accelerate the timing of their adjustments. We highlight three ways in which the power of monetary policy is reduced relative to the standard New
提供机构：
美国国家经济研究局
创建时间：
2019-08-01
