Inflation aversion and macroeconomic policy in a perfect foresight monetary model

被引：2

作者：

Wang, Gaowang ^{[1
]}

Zou, Heng-fu ^{[1
,2
,3
]}

机构：

[1] Wuhan Univ, Inst Adv Study, Sch Econ & Management, Wuhan 430072, Peoples R China

[2] Cent Univ Finance & Econ, China Econ & Management Acad, Beijing 100081, Peoples R China

[3] Shenzhen Univ, Inst Adv Study, Shenzhen 518060, Peoples R China

来源：

ECONOMIC MODELLING | 2011年 / 28卷 / 04期

关键词：

Inflation aversion; Endogenous time preference; Monetary superneutrality; Optimum quantity of money; FRIEDMAN RULE; ECONOMIC-GROWTH; MONEY; DYNAMICS; TAXES;

D O I：

10.1016/j.econmod.2011.03.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper reexamines monetary non-superneutrality and the optimality of the optimum quantity of money in the money-in-utility Sidrauski model with endogenous fluctuations of the time preference by introducing inflation aversion. It is shown that the long-run superneutrality of the standard Sidrauski model does not hold, and Friedman's optimum quantity of money is not optimal. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：1802 / 1807

页数：6

共 50 条

[31] Inflation, unemployment and monetary policy
Davidson, P
ECONOMIC RECORD, 2000, 76 (233) : 210 - 212
[32] Asset inflation and monetary policy
Kindleberger, Charles P.
PSL QUARTERLY REVIEW, 2009, 62 (248-251) : 29 - 50
[33] Monetary Policy to Combat Inflation
不详
AMERICAN ECONOMIC REVIEW, 1952, 42 (03): : 384 - 391
[34] Inflation expectations and monetary policy
Filácek, J
FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE, 2005, 55 (7-8): : 380 - 394
[35] Unemployment, inflation, and monetary policy
Parkin, M
CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE, 1998, 31 (05): : 1003 - 1032
[36] MONETARY-POLICY AND INFLATION
BALDERSTON, CC
ANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE, 1959, 326 (NOV): : 116 - 128
[37] Deficits, inflation, and monetary policy
Wray, LR
JOURNAL OF POST KEYNESIAN ECONOMICS, 1997, 19 (04) : 543 - 571
[38] MONETARY POLICY AND THE CONTROL OF INFLATION
Hansen, Alvin H.
REVIEW OF ECONOMICS AND STATISTICS, 1951, 33 (03) : 191 - 194
[39] Inflation projections and monetary policy
Kotlán, V
Skorepa, M
FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE, 2002, 52 (11): : 645 - 646
[40] The effects of monetary policy on macroeconomic risk
Forni, Mario
Gambetti, Luca
Maffei-Faccioli, Nicolo
Sala, Luca
EUROPEAN ECONOMIC REVIEW, 2024, 167

← 1 2 3 4 5 →