Policy Uncertainty and Informational Monopolies: The Case of Monetary Policy.

In this paper we have presented a model in which perfectly enticipated inflation is superneutral: if the variance of the money (or the growth rate of the money supply in the dynamic interpretation) supply is zero, the real equilibrium is independent of the mean of the money supply.

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Year of publication:	1997
Authors:	Jones, L.E. ; Manuelli, R.E
Institutions:	Wisconsin Madison - Social Systems
Subject:	ECONOMIC MODELS \| INFLATION \| MONETARY POLICY

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Extent:	application/pdf
Series:	Working papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	60 pages
Classification:	E40 - Money and Interest Rates. General ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005443418