TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Herzog, Bodo
T1  - Modelling the interaction of liquidity to price dynamics
JF  - Economics bulletin
N2  - This paper studies the impact of financial liquidity on the macro-economy. We extend a classic macroeconomic modeland compute numerical simulations. The model confirms that persistently low inflation can occur despite a high degreeof financial liquidity due to a reallocation of cash, normal and risk-free bonds. In that regard, our model uncovers anexplanation of a flat Phillips curve. Overall, our approach contributes to a rather disregarded matter in macroeconomictheory.
Y1  - 2020
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-28619
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-28619
UR  - http://www.accessecon.com/Pubs/EB/2020/Volume40/EB-20-V40-I2-P122.pdf
SN  - 1545-2921
SS  - 1545-2921
VL  - 40
IS  - 2
SP  - 1420
EP  - 1430
S1  - 11
PB  - University of Illinois
CY  - Champaign-Urbana, Ill
ER  -