Money, Interest Rates, and Exchange Rates with Endogenously Segmented Markets

By Fernando Alvarez, Andrew Atkeson, Patrick J. Kehoe. Journal of Political Economy, 2002

283 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/f5fe84500adf3bc66e5fd550ff6ccea8bbd389b5

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Citations in the corpus

Intermediary Asset Pricing (2013, unknown): “Given the price processes, decisions solve the consumption-savings problems of the debt household, the risky asset household (9) and the specialist (6);”
A Model of the Consumption Response to Fiscal Stimulus Payments (2011, background): “Alvarez and Lippi (2009) extend the classical Beaumol-Tobin setup to a dynamic environment where investors can make free withdrawals at random, exogenous times. This creates a precautionary demand for holding liquid assets. Alvarez, Guiso and Lippi (2011) extend this model in the spirit of Abel, Ebe”
The Distribution of Money Balances and the Nonneutrality of Money (2005, unknown): “Fuerst (1992), Williamson (2004)), segmented markets ( Alvarez, Atkinson and Kehoe (2002) ), or overlap-”
Country Size, Currency Unions, and International Asset Returns (2012, unknown): “The model nests the canonical real model of exchange rate determination (Backus and Smith (1993)) and a simplified version of the monetary model by Alvarez et al. (2002).4 The only relevant deviation from these standard approaches to modeling exchange rates is that I allow for countries to differ…”
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy (2005, result): “Note that our mechanism for generating a persistent liquidity effect contrasts with the approach in the recent literature, which emphasizes frictions in the adjustment of ﬁnancial portfolios (see, e.g., Christiano and Eichenbaum 1992 b ; Alvarez, Atkeson, and Kehoe 2002).”
New evidence on the puzzles: Results from agnostic identification on monetary policy and exchange rates (2008, unknown): “Recently, stochastic dynamic general equilibrium models with monetary policy policy shocks have been employed to explain the volatility and the persistence of the exchange rate, see e. g. Alvarez et al. (2002, 2006) , Chari, Kehoe and McGrattan (2002),Kollmann (2001)andBergin(2006).”
Doves for the Rich, Hawks for the Poor? Distributional Consequences of Monetary Policy (2016, background): “Heterogeneity also arises naturally in models of endogenous or exogenous limited asset-market participation, such as Alvarez et al. (2002) and Williamson (2008).”
Open market operations (2018, unknown): “Given 1 +  = (1 + ) , (4)-(5) immediately imply”