Optimal monetary policy with heterogeneous money holdings

DOI10.1016/j.jet.2015.07.005zbMath1330.91143OpenAlexW1150454828MaRDI QIDQ900433

Nicholas Trachter, Francesco Lippi, Stefania Ragni

Publication date: 22 December 2015

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/11392/2336449

zbMATH Keywords

heterogeneous agentsFriedman ruleprecautionary savingspure currencyredistributive monetary policy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (6)

Monetary mechanisms ⋮ Heterogeneity, decentralized trade, and the long-run real effects of inflation ⋮ Optimal social policies in mean field games ⋮ A tractable model of monetary exchange with ex post heterogeneity ⋮ Unique monetary equilibrium with inflation in a stationary Bewley-Aiyagari model ⋮ The invariant distribution of wealth and employment status in a small open economy with precautionary savings

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