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Is Money Neutral in the Long Run?
Burton Alan Abrams Russell Settle
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Russell Settle: Department of Economics,University of Delaware
Working Papers from University of Delaware, Department of Economics
The traditional neoclassical open-economy flexible exchange rate model is expanded to include a “credit channel” by incorporating a bank loan market. The new “credit view” model provides substantially different predictions concerning the neutrality of money and the types of autonomous shocks that might affect the real exchange rate.
Keywords: Credit Channel; Monetary policy; Fixed Exchange Rates; Money Neutrality (search for similar items in EconPapers)
JEL-codes: F41 E51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-fmk, nep-ifn, nep-mac and nep-mon
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Persistent link: http://EconPapers.repec.org/RePEc:dlw:wpaper:05-04
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