; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Modeling the Liquidity Effect of a Money Shock"; ; "jannelle.ruswick@mpls.frb.org"; "Christiano, Lawrence J."; "Federal Reserve Bank of Minneapolis"; "There is widespread agreement that a surprise increase in an economy's money supply drives the nominal interest rate down and economic activity up, at least in the short run. This is understood as reflecting the dominance of the liquidity effect of a money shock over an opposing force, the anticipated inflation effect. This paper illustrates why standard general equilibrium models have trouble replicating the dominant liquidity effect. It also studies several factors which have the potential to improve the performance of these models."^^; "1991 Winter"; "2019-12-09T21:07:35.87569866+00:00"^^; "https://doi.org/10.21034/qr.1511"; ; "Mon Dec 16 17:27:03 2019"; "Article"; "141"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 15, No. 1"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published In: _The Rational Expectations Revolution: Readings from the Front Line_ (1994, pp. 427-482)"^^; ; "Publication" . ; .