Gomis-Porqueras, Pere; Peralta-Alva, Adrian - Federal Reserve Bank of St. Louis - 2008
Wright (2005) framework. Monetary equilibria may be inefficient without fiscal policy tools due to bargaining frictions. We … (2005) framework. Monetary equilibria may be ine cient
without scal policy tools due to bargaining frictions. We show that …
equilibria are not rst best.
JEL Codes: C70, E40.
Keywords: money, bargaining, search, in ation, scal policy
We would like to …