A NOTE ON THE ROBUSTNESS OF THE TOBIN EFFECT IN INCOMPLETE MARKETS

DOI10.1017/S1365100506050036zbMath1102.91039MaRDI QIDQ5489154

Makoto Saito, Yosuke Takeda

Publication date: 25 September 2006

Published in: Macroeconomic Dynamics (Search for Journal in Brave)

zbMATH Keywords

optimal monetary policyirreversible investmentincentive compatibility constraintTobin effect

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Auctions, bargaining, bidding and selling, and other market models (91B26)

Cites Work

• Repeated principal-agent relationships with lending and borrowing
• Income fluctuation and asymmetric information: An example of a repeated principal-agent problem
• Money and insurance in a turnpike environment
• Money and dynamic credit arrangements with private information
• Efficient Allocations with Hidden Income and Hidden Storage
• Liquidity Preference and Financial Intermediation

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