Precautionary Demand for Money in a Monetary Search Business Cycle Model
the model account for relevant properties of the data, but not very significantly. The biggest quantitative potential for search frictions in this setting appears to be in the dynamic implications they generate for inventories and markups in the retail sector. Assessment of this potential is in progress.
|Date of creation:||2009|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
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- Irina A. Telyukova & Randall Wright, 2008.
"A Model of Money and Credit, with Application to the Credit Card Debt Puzzle,"
Review of Economic Studies,
Oxford University Press, vol. 75(2), pages 629-647.
- Irina A. Telyukova & Randall Wright, 2006. "A Model of Money and Credit, with Application to the Credit Card Debt Puzzle," 2006 Meeting Papers 45, Society for Economic Dynamics.
- Irina A. Telyukova & Randall Wright, 2007. "A model of money and credit, with application to the credit card debt puzzle," Working Paper 0711, Federal Reserve Bank of Cleveland.
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