Open market operations

Guillaume Rocheteau,Randall Wright,Sylvia Xiaolin Xiao

Journal of Monetary Economics（2018）

引用 109|浏览17

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摘要

•A microfounded macro framework with money and bonds is developed.•In this context, we study monetary policy in terms of open market operations.•Liquidity is captured by modeling the roles of assets in frictional exchange.•Liquidity is also endogenized using information theory.

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关键词

Monetary policy,Interest rates,Inflation,Liquidity

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