Savings, asset scarcity, and monetary policy

DOI10.1016/J.JET.2019.04.004MaRDI QIDQ2419600zbMATH OpenOpenAlexFDO

Authors Lukas Altermatt

Publication date 14 June 2019

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

Full work available at URL http://repository.essex.ac.uk/28092/1/Savings%2C%20asset%20scarcity%2C%20and%20monetary%20policy.pdf

zbMATH Keywords

overlapping generationsoptimal stabilizationzero lower boundnew monetarism

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Actuarial science and mathematical finance (91G99)

Recommendations

• Optimal interest rate rules, asset prices, and credit frictions
• The optimal quantity of money and partially-liquid assets
• Optimal Monetary Policy
• Limited asset markets participation, monetary policy and (inverted) aggregate demand logic
• Preference heterogeneity and optimal monetary policy

Cites work

• A Difficulty with the Optimum Quantity of Money
• An overlapping-generations model with search
• Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*
• Information, liquidity, asset prices, and monetary policy
• Monetary policy as financial stability regulation
• Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium
• Optimal fiscal and monetary policy when money is essential
• Optimal monetary policy in an overlapping generations model with search theoretic monetary exchange
• Scarce collateral, the term premium, and quantitative easing
• The safety trap

Cited in

(7)

• A dynamic portfolio approach to asset markets and monetary policy
• Limited asset markets participation, monetary policy and (inverted) aggregate demand logic
• Coexistence of money and interest-bearing bonds
• Monetary policy and risk-based asset allocation
• “CONVENTIONAL” MONETARY POLICY IN OLG MODELS: REVISITING THE ASSET‐SUBSTITUTION CHANNEL
• Savings and default
• Liquidity constraints and precautionary saving

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