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Portfolio and Consumption Decisions: Towards a Model of the Transmission Process

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  • Douglas D. Purvis

Abstract

This paper argues that a key difference between the monetarists and the neo-Keynesians is their respective views about how monetary policy works. Both views are shown to be special cases of the integrated model developed. The model is presented in such a form that it is a relatively straightforward empirical exercise to test for the relative merits of the two special cases. Preliminary evidence for Australia is presented.

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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 212.

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Length: 61
Date of creation: 1976
Date of revision:
Handle: RePEc:qed:wpaper:212

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Cited by:
  1. Sajjad Akhtar & Sajid Manzoor, 1994. "The Demand for Financial Assets in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(2), pages 135-146.

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