The role of money in economies with monetary policy regimes that ignore monetary aggregates

Víctor Olivo

MPRA Paper from University Library of Munich, Germany

Abstract: This paper discusses the important issue of price level determinacy from a theoretical and empirical perspective. The theoretical section relies basically on a dynamic aggregate demand aggregate supply (AD-AS) model. In the empirical section, we try to assess the relative importance of money against interest rate in explaining the evolution of the price level in six countries: Australia, Canada, Chile, South Korea, New Zealand and the United States

Keywords: Money; monetary aggregates; interest rate; monetary policy; price level (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Date: 2011-06
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41244

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