Sub-Optimality of the Friedman Rule in Townsend's Turnpike and Stochastic Relocation Models of Money: Do Finite Lives and Initial Dates Matter?
Year of publication: |
2005-03-01
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Authors: | Bhattacharya, Joydeep ; Haslag, Joseph ; Martin, Antoine |
Institutions: | Department of Economics, Iowa State University |
Subject: | Friedman rule | monetary policy | overlapping generations | turnpike |
Extent: | application/pdf |
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Series: | |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Published in Journal of Economic Dynamics and Control, May 2006, vol. 30 no. 5, pp. 879-897 |
Classification: | E31 - Price Level; Inflation; Deflation ; E51 - Money Supply; Credit; Money Multipliers ; E58 - Central Banks and Their Policies |
Source: |
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Haslag, Joseph, (2004)
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Who is Afraid of the Friedman Rule?
Bhattacharya, Joydeep, (2004)
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Understanding the Roles of Money, or When is the Friedman Rule Optimal, and Why?
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Who is Afraid of the Friedman Rule?
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Optimal Monetary Policy and Economic Growth
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