Creator: Chari, V. V., Christiano, Lawrence J., and Kehoe, Patrick J. Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 158 Abstract:
We find conditions for the Friedman rule to be optimal in three standard models of money. These conditions are homotheticity and separability assumptions on preferences similar to those in the public finance literature on optimal uniform commodity taxation. We show that there is no connection between our results and the result in the standard public finance literature that intermediate goods should not be taxed.
关键词: Inflation tax, Optimal monetary policy, and Ramsey policy 学科: E52 - Monetary Policy, E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination, and E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
Creator: Christiano, Lawrence J. and Eichenbaum, Martin S. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 478 描述:
This technical appendix supports "Liquidity Effects, Monetary Policy, and the Business Cycle" in Journal of Money, Credit and Banking (November 1995, Vol. 27, No. 4, Pt. 1, pp. 1113-1136), https://doi.org/10.2307/2077793.
关键词: Appendix, Computations, MATLAB, Monetary policy, Business cycles, Liquidity, and Mathematical computations 学科: E32 - Business Fluctuations; Cycles, Y10 - Data: Tables and Charts, and E52 - Monetary Policy