Who is Afraid of the Friedman Rule
dc.contributor.author | Singh, Rajesh | |
dc.contributor.author | Haslag, Joseph | |
dc.contributor.author | Martin, Antoine | |
dc.contributor.author | Bhattacharya, Joydeep | |
dc.contributor.department | Department of Economics (LAS) | |
dc.date | 2021-08-11T17:50:21.000 | |
dc.date.accessioned | 2021-08-14T04:32:31Z | |
dc.date.available | 2021-08-14T04:32:31Z | |
dc.date.issued | 2008-04-01 | |
dc.description.abstract | <p>We explore the connection between optimal monetary policy and heterogeneity among agents in a standard monetary economy with two types of agents where the stationary distribution of money holdings is nondegenerate. Sans type-specific fiscal policy, we show that the zero-nominal-interest rate policy (the Friedman rule) does not maximize type-specific welfare; it may not maximize aggregate ex ante social welfare either. Indeed, one or, more surprisingly, both types may benefit if the central bank deviates from the Friedman rule.</p> | |
dc.description.comments | <p>This article is published as Bhattacharya, Joydeep, Joseph Haslag, Antoine Martin, and Rajesh Singh. "Who is afraid of the Friedman rule?." <em>Economic Inquiry</em> 46, no. 2 (2008): 113-130. </p> | |
dc.format.mimetype | application/pdf | |
dc.identifier | archive/lib.dr.iastate.edu/econ_las_pubs/815/ | |
dc.identifier.articleid | 1831 | |
dc.identifier.contextkey | 24278126 | |
dc.identifier.s3bucket | isulib-bepress-aws-west | |
dc.identifier.submissionpath | econ_las_pubs/815 | |
dc.identifier.uri | https://dr.lib.iastate.edu/handle/20.500.12876/nrQBQEGz | |
dc.language.iso | en | |
dc.source.bitstream | archive/lib.dr.iastate.edu/econ_las_pubs/815/2008_Bhattacharya_WhoAfraid.pdf|||Sat Jan 15 02:07:11 UTC 2022 | |
dc.source.uri | 10.1111/j.1465-7295.2007.00068.x | |
dc.subject.disciplines | Finance | |
dc.subject.disciplines | Political Economy | |
dc.subject.disciplines | Social Welfare | |
dc.title | Who is Afraid of the Friedman Rule | |
dc.type | article | |
dc.type.genre | article | |
dspace.entity.type | Publication | |
relation.isAuthorOfPublication | b0ee400a-97b2-4e8f-9788-e92d754b1a5c | |
relation.isAuthorOfPublication | 56f37f39-ec2a-4b0b-b491-e32fba8e2c73 | |
relation.isOrgUnitOfPublication | 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d |
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