ASSET AND CURRENCY PRICES IN AN EXCHANGE ECONOMY WITH TRANSACTIONS COSTS

被引：3
|
作者：
BOUGHEAS, S
机构：
[1] The Pennsylvania State University University Park, PA
来源：
JOURNAL OF MACROECONOMICS | 1994年 / 16卷 / 01期
关键词：
D O I：
10.1016/0164-0704(94)90046-9
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper extends Lucas's (1978) asset pricing model to examine the behavior of equilibrium currency and asset prices in a monetary exchange economy with transactions costs. It analyzes the effects of monetary and real shocks on asset and currency demand functions. A comparative-static analysis generates results that contrast with those in Svensson's (1985) cash-in-advance model.
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页码：99 / 107
页数：9
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