Optimal monetary policy with heterogeneous money holdings

DOI10.1016/J.JET.2015.07.005zbMATH Open1330.91143OpenAlexW1150454828MaRDI QIDQ900433FDOQ900433

Authors: Francesco Lippi, Stefania Ragni, Nicholas Trachter 

Publication date: 22 December 2015

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

Full work available at URL: http://hdl.handle.net/11392/2336449

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zbMATH Keywords

heterogeneous agentsprecautionary savingsFriedman rulepure currencyredistributive monetary policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

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• On Efficient Distribution with Private Information
• Money, capital, and redistributive effects of monetary policies
• The welfare cost of inflation under imperfect insurance
• Liquidity and Trading Dynamics
• Sluggish responses of prices and inflation to monetary shocks in an inventory model of money demand
• ALTERNATIVE MONETARY POLICIES IN A TURNPIKE ECONOMY

Cited In (14)

• Unique monetary equilibrium with inflation in a stationary Bewley-Aiyagari model
• Optimal Money Holding under Uncertainty
• Monetary mechanisms
• Efficient propagation of shocks and the optimal return on money
• Some benefits of cyclical monetary policy
• Heterogeneity, decentralized trade, and the long-run real effects of inflation
• Title not available (Why is that?)
• Optimal money growth in a limited participation model with heterogeneous agents
• Optimal choice of monetary policy instruments in an economy with real and liquidity shocks
• Optimal social policies in mean field games
• A tractable model of monetary exchange with ex post heterogeneity
• The invariant distribution of wealth and employment status in a small open economy with precautionary savings
• Optimal random monetary policy with nominal rigidity.
• Preference heterogeneity and optimal monetary policy

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