Buiter, Willem H. - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-28, pp. 1-51
The author provides a rigorous analysis of Milton Friedman's parable of the "helicopter" drop of money a permanent/irreversible increase in the nominal stock of fiat base money rate which respects the intertemporal budget constraint of the consolidated Central Bank and Treasury - the State....