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- W3142862364 abstract "Monetary models that specify explicit frictions to generate money demand have been developed over the last 20 years and have been used to address many questions. In this paper we investigate the short-run properties of a particular model considering a number of versions based on some modeling choices. All versions feature exible prices. We nd that in many aspects, both real and nominal, the model resembles other, more reduced-form models. Some variations of the model come closer to matching some key nominal facts than a reduced-form model. The model also generates counter-cyclical markups, in line with the data." @default.
- W3142862364 created "2021-04-13" @default.
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- W3142862364 date "2010-01-01" @default.
- W3142862364 modified "2023-09-27" @default.
- W3142862364 title "Money, Search and Business Cycles" @default.
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