English, Article, Journal or magazine article edition: A New Cost Channel of Monetary Policy M. Alper Cenesiz

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Bookmark: http://trove.nla.gov.au/version/34618
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A New Cost Channel of Monetary Policy
Author
  • M. Alper Cenesiz
Physical Description
  • preprint
Notes
  • In this paper, I developed a new cost channel of monetary policy transmission in a small scale, dynamic, general equilibrium model. The new cost channel of monetary policy transmission implies that the frequency of price adjustment increases in the nominal interest rate. I found that allowing for the new cost channel can account both for the muted and delayed inflation response and for the persistence of the output response to monetary policy shocks. Without any additional assumption, my model can also generate the delayed output response, though for a slightly more competitive goods market calibration
  • Price stickiness, Monetary policy, Price adjustment, Persistence
  • RePEc:mmf:mmfc06:68
Language
  • English
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