Cavalcanti, Ricardo de Oliveira (contributor); … - 2005
and are not necessarily
those of the Federal Reserve Bank of Cleveland or of the Board of Governors of the Federal … shocks and can bene�t from some redistribution of wealth generated
by in�ation. The literature that has followed the seminal … (^ ; ), inequality (15)
holds. Therefore, proposition 4 describes the conditions that are su� cient, but not
necessary, for the optimal …