Aruoba, S. Boraðan; Waller, Christopher; Wright, Randall D. - 2009
the optimal monetary policy, which increases the
cost of inflation under either bargaining or price taking — but the list … (anticipated inflation) on capital formation. Previous
papers on this adopt reduced-form approaches, putting money in the utility … relation between fully anticipated inflation and capital formation. This is a
classic issue, going back to Tobin (1965 …