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

Ryoji Hiraguchi, Keiichiro Kobayashi

Research output: Contribution to journalArticle

1 Citation (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 languageEnglish
Pages (from-to)57-60
Number of pages4
JournalEconomics Letters
Volume125
Issue number1
DOIs
Publication statusPublished - 2014

Fingerprint

Buyers
Optimality
Search intensity
Decentralized market
Friedman rule

Keywords

  • Friedman rule
  • Monetary policy
  • Search

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Cite this

On the optimality of the Friedman rule in a New Monetarist model. / Hiraguchi, Ryoji; Kobayashi, Keiichiro.

In: Economics Letters, Vol. 125, No. 1, 2014, p. 57-60.

Research output: Contribution to journalArticle

Hiraguchi, Ryoji ; Kobayashi, Keiichiro. / On the optimality of the Friedman rule in a New Monetarist model. In: Economics Letters. 2014 ; Vol. 125, No. 1. pp. 57-60.
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