Add to ORKGWe construct an economy populated with infinitely-lived agents and show that the Friedman rule is suboptimal. We do that by showing that our economy and an overlapping generations model in which the Friedman rule is known to be suboptimal are homomorphic. We also discuss the importance of whether or not the economy has an initial date for this result
The Friedman rule is strongly immune to most model modifications although it has not actually been o...
I characterize a large family of monetary policies that implement Milton Friedman’s prescription of ...
In cash-in-advance models, necessary and sufficient conditions for the existence of an equilibrium w...
The Friedman rule, a widely studied prescription for monetary policy, is optimal in Townsend\u27s tu...
In this paper, we study the optimal steady state monetary policy in overlapping generations (OG) mod...
turnpike and stochastic relocation models of money: Do finite lives and initial dates matter
In models of money with an infinitely lived representative agent (ILRA models), the optimal monetary...
In models of money with an infinitely-lived representative agent (ILRA models), the optimal monetary...
In this paper, we explore the connection between optimal monetary policy and heterogeneity among age...
This paper introduces money into an overlapping generations model with endogenous growth. The model,...
Recent papers suggest that when intermediation is analyzed seriously, the Friedman rule does not max...
Recent papers suggest that when intermediation is analyzed seriously, the Friedman rule does not max...
According to the logic of the Friedman rule, the opportunity cost of holding money faced by private ...
I examine the implementation of the Friedman rule under the assumption that age dependent lump sum t...
A question at the center of many analyses of optimal monetary policy is, why do central banks never ...
The Friedman rule is strongly immune to most model modifications although it has not actually been o...
I characterize a large family of monetary policies that implement Milton Friedman’s prescription of ...
In cash-in-advance models, necessary and sufficient conditions for the existence of an equilibrium w...
The Friedman rule, a widely studied prescription for monetary policy, is optimal in Townsend\u27s tu...
In this paper, we study the optimal steady state monetary policy in overlapping generations (OG) mod...
turnpike and stochastic relocation models of money: Do finite lives and initial dates matter
In models of money with an infinitely lived representative agent (ILRA models), the optimal monetary...
In models of money with an infinitely-lived representative agent (ILRA models), the optimal monetary...
In this paper, we explore the connection between optimal monetary policy and heterogeneity among age...
This paper introduces money into an overlapping generations model with endogenous growth. The model,...
Recent papers suggest that when intermediation is analyzed seriously, the Friedman rule does not max...
Recent papers suggest that when intermediation is analyzed seriously, the Friedman rule does not max...
According to the logic of the Friedman rule, the opportunity cost of holding money faced by private ...
I examine the implementation of the Friedman rule under the assumption that age dependent lump sum t...
A question at the center of many analyses of optimal monetary policy is, why do central banks never ...
The Friedman rule is strongly immune to most model modifications although it has not actually been o...
I characterize a large family of monetary policies that implement Milton Friedman’s prescription of ...
In cash-in-advance models, necessary and sufficient conditions for the existence of an equilibrium w...