Durable Goods, Inter-Sectoral Linkages and Monetary Policy
dc.contributor.author | Bouakez, Hafedh | |
dc.contributor.author | Cardia, Emanuela | |
dc.contributor.author | Ruge-Murcia, Francisco | |
dc.date.accessioned | 2008-09-24T21:44:52Z | |
dc.date.available | 2008-09-24T21:44:52Z | |
dc.date.issued | 2008-08 | |
dc.identifier.uri | http://hdl.handle.net/1866/2578 | |
dc.format.extent | 537045 bytes | |
dc.format.mimetype | application/pdf | |
dc.publisher | Université de Montréal. Département de sciences économiques. | fr |
dc.subject | durability | en |
dc.subject | roundabout production | en |
dc.subject | input-output interactions | en |
dc.subject | sectoral comovement | en |
dc.subject | monetary policy | en |
dc.subject | E21 | en |
dc.subject | E23 | en |
dc.subject | E31 | en |
dc.subject | E52 | en |
dc.title | Durable Goods, Inter-Sectoral Linkages and Monetary Policy | en |
dc.type | Article | en |
dc.contributor.affiliation | Université de Montréal. Faculté des arts et des sciences. Département de sciences économiques | |
dcterms.abstract | Barsky, House and Kimball (2007) show that introducing durable goods into a sticky-price model leads to negative sectoral comovement of production following a monetary policy shock and, under certain conditions, to aggregate neutrality. These results appear to undermine sticky-price models. In this paper, we show that these results are not robust to two prominent and realistic features of the data, namely input-output interactions and limited mobility of productive inputs. When extended to allow for both features, the sticky-price model with durable goods delivers implications in line with VAR evidence on the effects of monetary policy shocks. | en |
dcterms.isPartOf | urn:ISSN:0709-9231 | |
dcterms.language | eng | en |
UdeM.VersionRioxx | Version publiée / Version of Record | |
oaire.citationTitle | Cahier de recherche | |
oaire.citationIssue | 2008-10 |
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