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| Author: | Cooley, T. Hansen, G. |
| Title: | Unanticipated money growth and the business cycle reconsidered |
| Journal: | Journal of Money, Credit and Banking
1997 : NOV, VOL. 29:4/2, p. 624-648 |
| Index terms: | MONEY GROWTH BUSINESS CYCLES |
| Language: | eng |
| Abstract: | The role of unanticipated changes in money growth for aggregate fluctuations is reexamined using the methods of quantitative equilibrium business cycle theory. A stochastic growth model with money is constructed in which production and trade take place in spatially separated markets. Following Lukas, individuals only observe prices level with changes in market-specific relative prices. |
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