Price level volatility: A simple model of money taxes and sunspots

DOI10.1006/JETH.1997.2362MaRDI QIDQ1270744zbMATH OpenOpenAlexFDO

Authors Joydeep Bhattacharya, Mark G. Guzman, Karl Shell

Publication date 8 December 1998

Published in Journal of Economic Theory (Search for Journal in Brave)

Copyright license Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International

Full work available at URL https://semanticscholar.org/paper/c6de593bd879d53b0d870c5661f4ad735ec1fd1f

zbMATH Keywords

price-level volatilitysunspot equilibria

Mathematics Subject Classification ID

General equilibrium theory (91B50) Macroeconomic theory (monetary models, models of taxation) (91B64)

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• Money taxes and efficiency when sunspots matter
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Cites work

• Efficient monetary equilibrium: An overlapping generations model with nonstationary monetary policies
• Equilibrium in economies with incomplete financial markets
• Extrinsic uncertainty revisited
• scientific article; zbMATH DE number 509210 (Why is no real title available?)
• Indivisibilities, lotteries, and sunspot equilibria
• Market Participation and Sunspot Equilibria
• Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies
• Markets for an Exchange Economy with Individual Risks
• On exchange rates and efficiency
• Options and sunspots in a simple monetary economy
• Rationing and sunspot equilibria
• Robustness of sunspot equilibria
• The economic effects of restrictions on government budget deficits
• The overlapping-generations model. II. The case of pure exchange with money
• When sunspots don't matter

Cited in

(8)

• Introduction to modeling money and studying monetary policy
• Money taxes and efficiency when sunspots matter
• A simple model for study of the determination of the price level and the interaction of monetary and fiscal policy
• Welfare and excess volatility of exchange rates
• Price-level volatility and welfare in incomplete markets with sunspots
• Money taxes, market segmentation, and sunspot equilibria
• Incomplete markets and volatility
• Endogenous liquidity and volatility

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