Monetary politics in quasi-linear macroeconomic model

dc.contributor.authorAnaniashvili, Iuri
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dc.description.abstractIn this article we introduce an original model of macroeconomic equilibrium that consists of 7 interconnected equations. The five equations out of the seven, describe equilibrium of aggregate markets of intermediate goods, final goods, labour, capital and money. The remaining two equations depict the process of formation of equilibrium price level. In the paper it is shown that if an interest rate is not accounted for as an explanatory variable in a demand function for final goods, then money is absolutely neutral in economy. When interest rate is accounted for, then growth of money supply contributes to the growth of the values of nominal as well as real variables.en_US
dc.identifier.citationThe 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 20-26
dc.publisherIvane Javakhishvili Tbilisi State University Pressen_US
dc.subjectintermediate goods; final goods; price level; nominal wage; endogenous variablesen_US
dc.titleMonetary politics in quasi-linear macroeconomic modelen_US
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