Optimal Monetary Policy in a Pure Currency Economy with Heterogenous Agents

This paper shows that, in a pure currency economy with heterogeneous agents and multiple commodities, a pecuniary externality plays a key role in making the equilibrium allocation constrained inefficient. Monetary policy intervention can help improve matters

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Year of publication:	2017
Authors:	Amendola, Nicola ; Ferraris, Leo ; Mattesini, Fabrizio
Publisher:	[S.l.] : SSRN

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Extent:	1 Online-Ressource (30 p)
Series:	CEIS Working Paper ; No. 394
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 16, 2016 erstellt
Other identifiers:	10.2139/ssrn.2886533 [DOI]
Classification:	E40 - Money and Interest Rates. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014123769