Liquidity, business cycles and monetary policy: a simulation

Detalhes bibliográficos
Autor(a) principal: Henriques, Pedro Castro
Data de Publicação: 2010
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/11846
Resumo: A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and Economics
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spelling Liquidity, business cycles and monetary policy: a simulationA Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and EconomicsIn Kiyotaki and Moore (2008) the authors develop a model in which di¤erences in the liquidity of distinct assets create a link between asset prices and macroeconomic aggregates. Their goal is to build a work- horse model that incorporates liquidity as the cause for the circulation of money, in a dynamic stochastic general equilibrium (DSGE) environment, close enough to the real business cycle (RBC) framework, and thus, suitable for studying monetary policy. In this article, I am interested in studying how this framework can be used to understand the e¤ects of liquidity and technology shocks in the U.S. economy. I calibrate their model and study the impact of adding up liquidity constraints on its RBC performance. I .nd that liquidity constraints have a remarkable impact on the volatility of investment and consumption. Moreover, I conclude that, in this context, asset prices. volatility is explained as a natural feature of a monetary economy when hit by liquidity shocks.NSBE - UNLTeles, PedroFranco, FrancescoRUNHenriques, Pedro Castro20102010-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/11846enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:46:32Zoai:run.unl.pt:10362/11846Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:20:34.833119Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Liquidity, business cycles and monetary policy: a simulation
title Liquidity, business cycles and monetary policy: a simulation
spellingShingle Liquidity, business cycles and monetary policy: a simulation
Henriques, Pedro Castro
title_short Liquidity, business cycles and monetary policy: a simulation
title_full Liquidity, business cycles and monetary policy: a simulation
title_fullStr Liquidity, business cycles and monetary policy: a simulation
title_full_unstemmed Liquidity, business cycles and monetary policy: a simulation
title_sort Liquidity, business cycles and monetary policy: a simulation
author Henriques, Pedro Castro
author_facet Henriques, Pedro Castro
author_role author
dc.contributor.none.fl_str_mv Teles, Pedro
Franco, Francesco
RUN
dc.contributor.author.fl_str_mv Henriques, Pedro Castro
description A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and Economics
publishDate 2010
dc.date.none.fl_str_mv 2010
2010-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/11846
url http://hdl.handle.net/10362/11846
dc.language.iso.fl_str_mv eng
language eng
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eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv NSBE - UNL
publisher.none.fl_str_mv NSBE - UNL
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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