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

Antoine Martin, Joydeep Bhattacharya, Joseph H. Haslag

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

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zbMATH Keywords

monetary policyoverlapping generationsFriedman ruleturnpike

Mathematics Subject Classification ID

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

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?

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