; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "A Price Discrimination Analysis of Monetary Policy"; ; "batchuser@example.com"; "Wallace, Neil", "Bryant, John B."; "Federal Reserve Bank of Minneapolis"; "Monetary policy is analyzed within a model that ignores transaction costs and appeals solely to legal restrictions on private intermediation to explain the coexistence of currency and interest-bearing default-free bonds. The interaction between such legal restrictions and monetary policy is illustrated in versions of overlapping generations models that contain three assets: government-issued currency and bonds and real capital. It is shown that legal restrictions and the use of both currency and bonds permit the government to levy a discriminatory inflation tax and that such a tax may be better in terms of the Pareto criterion than a uniform inflation tax."^^; "1983-04"; "2019-10-21T22:20:47.613209598+00:00"^^; "https://doi.org/10.21034/sr.51"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-04-01T21:07:56.079813869+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "102", "823"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "051"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """Published in: _Review of Economic Studies_ (Vol. 51, No. 2, April 1984, pp. 279-288) https://doi.org/10.2307/2297692. Published in: _The new classical macroeconomics_ (Vol. 2, 1992, pp. 430-439) [Working Paper 189: _A Price Discrimination Analysis of Monetary Policy_](https://researchdatabase.minneapolisfed.org/concern/publications/sb397824g?locale=en)"""^^; ; "Publication" . ; .