On the optimality of the Friedman rule in a New Monetarist model

We study a monetary model in which buyers choose search intensity and prices are considered as given in a decentralized market. We indicate that the Friedman rule may not be optimal.

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Year of publication:	2014
Authors:	Hiraguchi, Ryoji ; Kobayashi, Keiichiro
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 125.2014, 1, p. 57-60
Publisher:	Elsevier
Subject:	Monetary policy \| Friedman rule \| Search

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Type of publication:	Article
Classification:	E1 - General Aggregative Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010939499