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| Author: | Ohanian, L. Stockman, A. Kilian, L. |
| Title: | The effects of real and monetary shocks in a business cycle model with some sticky prices |
| Journal: | Journal of Money, Credit and Banking
1995 : NOV, VOL. 27:4/2, p. 1210-1234 |
| Index terms: | BUSINESS CYCLES MODELS MONEY |
| Language: | eng |
| Abstract: | an established characteristic of macroeconomic fluctuations is the strong positive correlation between variations in the money stock and variations in production, income, and employment at business cycle frequencies. This finding has motivated an enormous literature that has studied the effects of monetary policy disturbances on the real economy, and in particular on the role of money in business cycles. Several classes of monetary business cycle models have been developed that feature different channels through which monetary policy can have real effects. |
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