Inflation and asset prices in a monetary economy

被引：3

作者：

Balduzzi, P

机构：

[1] Department of Finance, L. Stern School of Business, New York University, New York, NY 10012

来源：

ECONOMICS LETTERS | 1996年 / 53卷 / 01期

关键词：

cash-in-advance constraint; exchange economy;

D O I：

10.1016/S0165-1765(97)82137-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper derives solutions for inflation and asset prices in a cash-in-advance economy with logarithmic preferences. Although the monetary and real processes are independent, the money supply affects real interest rates and stock returns, as well as nominal interest rates.

引用

页码：67 / 74

页数：8