Sub-optimality of the Friedman rule in Townsend's turnpike and stochastic relocation models of money: do finite lives and initial dates matter?

DOI10.1016/J.JEDC.2005.03.011zbMATH Open1200.91204OpenAlexW2014202157MaRDI QIDQ956533FDOQ956533

Authors Joydeep Bhattacharya, Joseph H. Haslag, Antoine Martin

Publication date 25 November 2008

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

Full work available at URL http://www2.econ.iastate.edu/papers/p1843-2005-03-01.pdf

zbMATH Keywords

monetary policyoverlapping generationsFriedman ruleturnpike

Mathematics Subject Classification ID

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

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Cites work

• Asset trading mechanisms and expansionary policy
• Money, banking, and capital formation

Cited in

(2)

• Why does overnight liquidity cost more than intraday liquidity?
• Optimal monetary policy in an overlapping generations model with search theoretic monetary exchange

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