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Modelo de ciclo de negocios real con dinero endógeno y pasivo
[A real business cycle model with endogenous and passive money]

Author

Listed:
  • Guberman, Carlos
  • Cymbler, David

Abstract

We built a real business cycle model with inside money and passive monetary policy that shows some interesting features regarding interest rate dynamics and credit market behavior. We find that the model is stable, a feature that was difficult to find in the literature on passive money. We think this would be a good starting point to analyze monetary policy before and after the international financial crisis that started at the market for secured loans.

Suggested Citation

  • Guberman, Carlos & Cymbler, David, 2014. "Modelo de ciclo de negocios real con dinero endógeno y pasivo [A real business cycle model with endogenous and passive money]," MPRA Paper 57183, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:57183
    as

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    File URL: https://mpra.ub.uni-muenchen.de/57183/1/MPRA_paper_57183.pdf
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    References listed on IDEAS

    as
    1. Black, Fischer, 1972. "Active and Passive Monetary Policy in a Neoclassical Model," Journal of Finance, American Finance Association, vol. 27(4), pages 801-814, September.
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    More about this item

    Keywords

    Passive money; endogenous money; monetary policy; collateral constraint;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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