Market intelligence gathering, asymmetric information, and the instability of money demand.
The observed money demand in the U.S. had a stable negative relation with the interest rate up until the 1990s. After this period, this relation fell apart and has never been restored. We show that the central bank's ability to gather information, referred to as market intelligence (MI), matters to...
| Publicado en: | Economic Inquiry Vol. 62; no. 3; pp. 1216 - 1246 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Jul2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |