Portfolio and Consumption Decisions: Towards a Model of the Transmission Process

Douglas Purvis

Working Paper from Economics Department, Queen's University

Abstract: This paper argues that a key difference between the monetarists and the neo-Keynesians is their respective views about how monetary policy works. Both views are shown to be special cases of the integrated model developed. The model is presented in such a form that it is a relatively straightforward empirical exercise to test for the relative merits of the two special cases. Preliminary evidence for Australia is presented.

Pages: 61
Date: 1976
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:212

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