Futures markets and monetary policy
Publication
, Journal Article
Kimbrough, KP
Published in: Journal of Monetary Economics
January 1, 1985
It has recently been argued that when differentially informed agents trade with one another monetary policy can influence the distribution of output by altering the information content of prices. This paper introduces a futures market into the Barro (1980) model and shows that under certain conditions prices may aggregate information in a manner such that differentially informed agents hold identical beliefs concerning aggregate market conditions. In such cases, monetary policy will be unable to influence the distribution of output. These results then serve as a backdrop for a more general discussion of the relationship between asset prices and the role of monetary policy. © 1985.
Duke Scholars
Published In
Journal of Monetary Economics
DOI
ISSN
0304-3932
Publication Date
January 1, 1985
Volume
15
Issue
1
Start / End Page
69 / 79
Related Subject Headings
- Economics
- 3803 Economic theory
- 3801 Applied economics
- 3502 Banking, finance and investment
- 1403 Econometrics
- 1402 Applied Economics
- 1401 Economic Theory
Citation
APA
Chicago
ICMJE
MLA
NLM
Kimbrough, K. P. (1985). Futures markets and monetary policy. Journal of Monetary Economics, 15(1), 69–79. https://doi.org/10.1016/0304-3932(85)90053-4
Kimbrough, K. P. “Futures markets and monetary policy.” Journal of Monetary Economics 15, no. 1 (January 1, 1985): 69–79. https://doi.org/10.1016/0304-3932(85)90053-4.
Kimbrough KP. Futures markets and monetary policy. Journal of Monetary Economics. 1985 Jan 1;15(1):69–79.
Kimbrough, K. P. “Futures markets and monetary policy.” Journal of Monetary Economics, vol. 15, no. 1, Jan. 1985, pp. 69–79. Scopus, doi:10.1016/0304-3932(85)90053-4.
Kimbrough KP. Futures markets and monetary policy. Journal of Monetary Economics. 1985 Jan 1;15(1):69–79.
Published In
Journal of Monetary Economics
DOI
ISSN
0304-3932
Publication Date
January 1, 1985
Volume
15
Issue
1
Start / End Page
69 / 79
Related Subject Headings
- Economics
- 3803 Economic theory
- 3801 Applied economics
- 3502 Banking, finance and investment
- 1403 Econometrics
- 1402 Applied Economics
- 1401 Economic Theory