Recall our discussion, summarized by corresponding time paths, of the consequences over time for (i) the nominal exchange rate, (ii) the domestic-output price, and (iii) the nominal interest rate of a one-time increase in the nominal money supply (at a level of real output that remains constant throughout). Perform exactly the same analysis for another purely monetary shock, namely a permanent exogenous jump in real money demand--that is, a "flight to liquidity", indicated by a rise in the liquidity preference parameter alpha at the prevailing interest rate and at the invariant level of output. In analyzing the consequences over time of this shock for (i) - (iii), consider separately the case of momentary price rigidity and that of an instantaneously flexible domestic-output price. Throughout retain the simplifying assumption that the real money stock is given by the ratio of the nominal money supply divided by the price of domestic output (as opposed to the domestic price index) and recall that one-time monetary disturbances leave the long-run real exchange rate and the long-run (nominal and real) interest rate unchanged.