MONEY SUPPLY ANNOUNCEMENTS AND REAL ECONOMIC-ACTIVITY
成果类型：
Article
署名作者：
JOINES, DH
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/0304-3932(91)90032-J
发表日期：
1991
页码：
391-410
关键词：
摘要：
This paper derives testable implications of a model due to Siegel (1985) in which interest rates react to announced innovations in the money supply solely because money announcements reveal information about real economic activity. Tests of these implications yield results inconsistent with the model. In addition, the results contradict the finding of Huizinga and Leiderman (1987) that interest rates tended to rise in response to unexpected increases in the monetary base from October 1979 to February 1984.
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