Welfare effects of unanticipated policy changes with complete asset markets

Toshihiko Mukoyama

Economics Letters, 2010, vol. 109, issue 2, 134-138

Abstract: This paper analyzes the welfare effects of unanticipated policy changes in a model with complete asset markets and heterogeneous agents. There are two effects: an effect of the change in wealth and a direct effect from the price change.

Keywords: Welfare; effect; Unanticipated; policy; change; Complete; asset; markets; Heterogeneous; agents (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:109:y:2010:i:2:p:134-138

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