Liquidity effects in non-Ricardian economies

Jean-Pascal Benassy

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Abstract: It has often been found difficult to generate a liquidity effect (i.e., a negative effect of monetary injections on the nominal interest rate) in the traditional "Ricardian" stochastic dynamic model with a single infinitely lived household. We show that moving to a non-Ricardian environment where new agents enter the economy in each period allows such a liquidity effect to be generated.

Keywords: Non-Ricardian economies; Liquidity effect (search for similar items in EconPapers)
Date: 2006-05
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Citations: View citations in EconPapers (1)

Published in Scandinavian Journal of Economics, 2006, 108 (1), pp.65-80. ⟨10.1111/j.1467-9442.2006.00440.x⟩

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Related works:
Journal Article: Liquidity Effects in Non‐Ricardian Economies (2006)
Working Paper: Liquidity effects in non Ricardian economies (2005)
Working Paper: Liquidity effects in non Ricardian economies (2005)
Working Paper: Liquidity Effects in non-Ricardian Economies (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00754156

DOI: 10.1111/j.1467-9442.2006.00440.x

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