ALTERNATIVE MONETARY POLICIES IN A TURNPIKE ECONOMY

DOI10.1017/S1365100509990940MaRDI QIDQ3089013zbMATH OpenOpenAlexFDO

Authors Rodolfo E. Manuelli, Thomas J. Sargent

Publication date 23 August 2011

Published in Macroeconomic Dynamics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1017/s1365100509990940

zbMATH Keywords

creditFiat moneyFriedman rulePareto optimality

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Heterogeneous agent models (91B69)

Recommendations

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Cites work

• A Difficulty with the Optimum Quantity of Money
• Asset trading mechanisms and expansionary policy
• Borrowing Constraints and Aggregate Economic Activity
• Cohomology of elementary states in twistor conformal field theory
• Efficient allocations with hidden income and hidden storage
• Money and Growth: The Case of Long Run Perfect Foresight
• Money is memory
• Transaction costs and the use of cash and credit

Cited in

(8)

• Money and insurance in a turnpike environment
• A theory of optimal denominations for government liabilities
• The redistributive effects of inflation and the shape of money demand
• Limited participation, private money, and credit in a spatial model of money
• Optimal money creation in ``pure currency economies: a conjecture
• Decentralizing constrained-efficient allocations in the Lagos-Wright pure currency economy
• Limited participation, private money, and credit in a spatial model of money
• Optimal monetary policy with heterogeneous money holdings

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