; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Asset Trading Mechanisms and Expansionary Policy"; ; "batchuser@example.com"; "Levine, David K."; "Federal Reserve Bank of Minneapolis"; "Optimal monetary policy", "Trade", "Asset trading", "Contraction", "Expansion", "Private information"; "D82 - Asymmetric and Private Information; Mechanism Design", "E52 - Monetary Policy"; "Previous authors have argued that the optimal monetary policy is contractionary. If buyers value consumption substantially more than sellers, there is some randomness and informational constraints make asset trading useful, we show that there is an incentive compatible expansionary policy that dominates all incentive compatible contractionary policies."^^; "1988-03"; "2018-03-13T20:16:25.207390115+00:00"^^; "https://doi.org/10.21034/wp.388"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-05-06T21:35:21.04610192+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "449"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "388"; "Contraction", "Optimal monetary policy", "Expansion", "Asset trading", "Private information", "Trade"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """Published in: _Journal of Economic Theory_, Vol. 54, Iss. 1, June 1991, pp. 148-164, https://doi.org/10.1016/0022-0531(91)90110-P. """^^; ; "Publication" . ; .