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.2005.03.011MaRDI QIDQ956533zbMATH OpenOpenAlexFDO

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)

Recommendations

• On the optimality of the Friedman rule in a New Monetarist model
• The optimality of the friedman rule when some distorting taxes are exogenous
• The Friedman rule under habit formation
• Some results on the optimality and implementation of the Friedman rule in the search theory of money
• (Non)optimality of the Friedman rule and optimal taxation in a growing economy with imperfect competition

Cites work

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

Cited in

(2)

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

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

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q956533)