Evans, George W. (contributor); … - 2003 - [Elektronische Ressource]
Friedman’s Money Supply Rule vs. Optimal
Interest Rate Policy
∗
George W. Evans
University of Oregon
Seppo Honkapohja …: open-loop interest rate rules are subject to indeter-
minacy and instability problems, but a properly chosen expectations … welfare loss, we find for calibrated
models that Friedman’s rule performs poorly when compared to the
optimal interest rate …