Optimal choice of monetary policy instruments in an economy with real and liquidity shocks

DOI10.1016/J.JEDC.2007.05.007MaRDI QIDQ844644zbMATHOpenAlexFDO

Authors Joydeep Bhattacharya, Rajesh Singh

Publication date 19 January 2010

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://lib.dr.iastate.edu/cgi/viewcontent.cgi?article=1160&context=econ_las_workingpapers

zbMATH Keywords

inflation targetingoverlapping generationsinterest rate targetingmonetary targetingrandom relocation model

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

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Cites work

• DISCOUNT WINDOW POLICY, BANKING CRISES, AND INDETERMINACY OF EQUILIBRIUM
• Efficiency and determinacy of equilibrium under inflation targeting
• Money, banking, and capital formation
• SEASONALITY AND MONETARY POLICY
• The social value of risk-free government debt
• USEFULNESS OF THE CONSTRAINED PLANNING PROBLEM IN A MODEL OF MONEY

Cited in

(7)

• Efficient propagation of shocks and the optimal return on money
• The optimal liquidity principle and the aggregate money demand
• Destabilizing optimal policies in the business cycle
• Imperfect interbank markets and the lender of last resort
• Input-output interactions and optimal monetary policy
• Optimal monetary rules under persistent shocks
• Central bank independence and the monetary instrument problem

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