Real returns on government debt: A general equilibrium quantitative exploration

European Economic Review

Volumn 41, Issue 1, 1997, Pages 115-137

  Díaz Giménez, Javier ^a   Prescott, Edward C ^b,c  

^a UNIVERSIDAD CARLOS III DE MADRID   (Spain)

^b UNIVERSITY OF MINNESOTA   (United States)

^c FEDERAL RESERVE BANK OF MINNEAPOLIS   (United States)

Author keywords

Heterogeneous agents; Liquidity constraints; Quantitative general equilibrium; Real returns

Indexed keywords

GOVERNMENT DEBT COMPUTABLE GENERAL EQUILIBRIUM MODEL; INTEREST RATE CHANGE; REAL RETURNS;

EID: 0040412750     PISSN: 00142921     EISSN: None     Source Type: Journal    
DOI: 10.1016/0014-2921(95)00028-3     Document Type: Article

References (20)

1. Altig, D. and C.T. Carlstrom, 1991, Inflation, personal taxes and real output: A dynamic analysis, Journal of Money Credit and Banking 23, 541-571.
2. Bewley, T., 1980, The optimum quantity of money, In: J. Kareken and N. Wallace, eds., Models of monetary economies (Federal Reserve Bank of Minneapolis, Minneapolis, MN) 169-210.
3. Bryant, J. and N. Wallace, 1979, The inefficiency of interest-bearing national debt, Journal of Political Economy 87, 365-381.
4. Christiano L.J. and M. Eichenbaum, 1992, Liquidity effects, monetary policy and business cycles, Discussion paper 70 (Institute of Empirical Macroeconomics, Federal Reserve Bank of Minneapolis, Minneapolis, MN).
5. Cooley, T.F. and G.D. Hansen, 1989, The inflation tax in a business cycle model, American Economic Review 79, 733-748.
6. Cooley, T.F. and Stephen F. LeRoy, 1985, Atheoretical macroeconomics: A critique, Journal of Monetary Economics 16, 283-308.
7. Hansen, G.D., 1985, Indivisible labor and the business cycle, Journal of Monetary Economics 16, 309-328.
8. İmrohoroǧlu, A., 1989, Costs of business cycles with indivisibilities and liquidity constraints, Journal of Political Economy, forthcoming.
9. İmrohoroǧlu, A., 1991, The welfare cost of inflation under imperfect insurance, Journal of Economic Dynamics and Control 16, 79-91.
10. Ingram, E., 1990, Equilibrium modelling of asset prices: Rationality versus rules of thumb, Journal of Business and Economic Statistics 8, no. 1, 115-125.
11. Lucas, R.E., 1980, Equilibrium in a pure currency economy, In: J. Kareken and N. Wallace, eds., Model of monetary economies (Federal Reserve Bank of Minneapolis, Minneapolis, MN) 131-145.
12. Lucas, R.E., 1982, Interest rates and currency prices in a two-country world, Journal of Monetary Economics 10, 335-360.
13. Lucas, R.E. and N.L. Stokey, 1983, Optimal fiscal and monetary policy in an economy without capital, Journal of Monetary Economics 12, 721-754.
14. Lucas, R.E. and N.L. Stokey, 1987, Money and interest in a cash-in-advance economy, Econometrica 55, 491-514.
15. Marimon, R. and N. Wallace, 1987, Trade using assets divisible at a cost, Journal of Economic Theory 43, 223-251.
16. Novales, A., 1990, A stochastic monetary equilibrium model of the interest rate, Econometrica 58, no, 1, 93-111.
17. Rogerson, R.D., 1988, Indivisible labor, lotteries, and equilibrium, Journal of Monetary Economics 21, 3-16.
18. Sims, C.A., 1985, Solving non-linear stochastic equilibrium models backwards, Manuscript (University of Minnesota, Minneapolis, MN).
19. Svensson, L.E.O., 1985, Money and asset prices in a cash-in-advance economy, Journal of Political Economy 93, 919-944.
20. Wallace, N., 1983, A legal restrictions theory of the demand for money and the role of monetary theory, Federal Reserve Bank of Minneapolis Quarterly Review, Winter, 1-7.