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The Role of Money in Two Alternative Models:When is the Friedman Rule Optimal, and Why?
Bhattacharya, Joydeep; Haslag, Joseph H.; Russell, Steven - Iowa State University of Science and Technology <Ames, … - 2004
In models of money with an infinitely-lived representative agent (ILRA models), the optimal monetary policyis almost …, and why. We investigate the welfare properties of monetary policy in a simpleOG model under two different types of money … demand specifications and under two alternative assumptionsabout the generational timing of taxes for money retirement. We …
Persistent link: https://www.econbiz.de/10009360919
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Resurrecting Equilibria Through Cycles
Barnett, Richard; Bhattacharya, Joydeep; Bunzel, Helle - Iowa State University of Science and Technology <Ames, … - 2007
In an overlapping generations model, momentary equilibria are defined as points that lieon the intergenerational offer curve, i.e., they satisfy agents’ optimality conditions and marketclearing at any date. However, some dynamic sequences commencing from such points may notbe considered valid...
Persistent link: https://www.econbiz.de/10009360821
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Monnaies et marchés au moyen âge
Day, John - 1994
Persistent link: https://www.econbiz.de/10013554431