"This paper presents a simple coherent general equilibrium example in which optimal provision of a public good implies counter-cyclical government expenditure"--Federal Reserve Bank of Minneapolis web site

"Our suggestion consists of three postulates: assets are valued only in terms of their payoffs, perfect foresight, and complete and costless markets under laissez-faire. Together these postulates imply that the crucial anomaly, rate-of-return dominance of "money", "is to be explained by legal...

"This paper presents a welfare analysis of monetary policy rules that differ as regards the extent to which monetary policy accommodates an exogenous, stochastic deficit. Examples show that a nonaccommodating rule, one involving a higher ratio of bonds to currency the higher the deficit, is not...