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

Ryoji Hiraguchi; Keiichiro Kobayashi

doi:10.1016/j.econlet.2014.08.002

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

Ryoji Hiraguchi, Keiichiro Kobayashi

Department of Economic

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	57-60
Number of pages	4
Journal	Economics Letters
Volume	125
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2014.08.002
Publication status	Published - 2014 Oct

Keywords

Friedman rule
Monetary policy
Search

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2014.08.002

Cite this

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title = "On the optimality of the Friedman rule in a New Monetarist model",

abstract = "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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author = "Ryoji Hiraguchi and Keiichiro Kobayashi",

year = "2014",

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

Abstract

Keywords

ASJC Scopus subject areas

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