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
收藏
页码：1802 / 1807
页数：6
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