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

DOI10.1016/J.JEDC.2007.05.007zbMATH Open1181.91185OpenAlexW2123878930MaRDI QIDQ844644FDOQ844644

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

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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)

Cites Work

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

Cited In (6)

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

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