Accounting for the Relationship between Money and Interest Rates
Magnus Jonsson and
Paul Klein ()
Additional contact information
Magnus Jonsson: Sveriges Riksbank
Data from EconWPA
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.
New Economics Papers: this item is included in nep-cba, nep-cfn, nep-dge, nep-mac and nep-mon
Note: Type of Document - zip; pages: 3
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Journal Article: ACCOUNTING FOR THE RELATIONSHIP BETWEEN MONEY AND INTEREST RATES (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpda:0504001
Access Statistics for this paper
More papers in Data from EconWPA
Series data maintained by EconWPA ().