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Accounting for the Relationship between Money and Interest Rates

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Author Info

  • Magnus Jonsson

    (Sveriges Riksbank)

  • Paul Klein

    (University of Western Ontario)

Abstract

In time series from the United States, the relationship between the money to income ratio and the nominal interest rate is a negative and stable one. In Swedish data, there is no such stable relationship. In this paper, we argue that this difference can be explained by the differences in the shock processes that have hit the two countries. Using a dynamic general equilibrium model driven by shock processes estimated to fit the two countries, we find that we can account for the main properties of the data remarkably well.

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File URL: http://128.118.178.162/eps/data/papers/0504/0504001.zip
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Bibliographic Info

Paper provided by EconWPA in its series Data with number 0504001.

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Length: 3 pages
Date of creation: 22 Apr 2005
Date of revision:
Handle: RePEc:wpa:wuwpda:0504001

Note: Type of Document - zip; pages: 3
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Web page: http://128.118.178.162

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Cited by:
  1. Mathias Trabandt, 2007. "Optimal Pre-Announced Tax Reform Revisited," Economics Working Papers ECO2007/52, European University Institute.
  2. Julian Emami Namini, 2009. "International Trade with Firm Heterogeneity in Factor Shares," Tinbergen Institute Discussion Papers 09-020/1, Tinbergen Institute.
  3. Emami Namini, Julian, 2014. "The short and long-run impact of globalization if firms differ in factor input ratios," Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 37-64.

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