Bhattacharya, Joydeep; Haslag, Joseph H.; Martin, Antoine - Iowa State University of Science and Technology <Ames, … - 2004
. An increase in the rate of growth of the money supply has the standard partial-equilibrium effect of making money a less … type of agent to the other. For each environment, when the rate of growth of the money supply is not too high, an increase …. Across these environments, our principal finding is as follows: a monetary policy that sets long run nominal interest rates …