Heterogeneous consumers, segmented asset markets, and the real effects of monetary policy
This paper proposes a novel mechanism by which changes in the distribution of money holdings have real effects. Specifically, I develop a flexible-price model of segmented asset markets that generates real aggregate effects of monetary policy through the dependence of optimal markups on the heteroge...
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| Main Author: | |
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| Format: | Book/Monograph Working Paper |
| Language: | English |
| Published: |
Munich
CESifo, Center for Economic Studies & Ifo Institute
May 2017
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| Series: | CESifo working paper Category 7, Monetary policy and international finance
no. 6467 |
| In: |
CESifo working papers (no. 6467)
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| Subjects: | |
| Online Access: | Resolving-System, Volltext: http://hdl.handle.net/10419/161906 Verlag, Volltext: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19323442 
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| Author Notes: | Zeno Enders |
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