Berentsen, Aleksander (contributor); … - 2004 - [Elektronische Ressource]
simplest form of which requires the money stock to contract at the discount
rate.
2
The Friedman rule maximizes the real value … convenience, we interpret the Friedman rule as a requirement on the contrac-
tion rate of the money stock, because our model … rate, are also valid in our model.
1
The Hosios rule describes how a market can internalize search externalities. First …