The Real Balance Effect
收藏NBER2001-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8136
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资源简介：
This paper extends a conventional cash-in-advance model to incorporate a real balance effect of the kind described by de Scitovszky, Haberler, Pigou, and Patinkin. When operative, this real balance effect eliminates the liquidity trap, allowing the central bank to control the price level even when
提供机构：
美国国家经济研究局
创建时间：
2001-02-01
