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

C-Tier

Journal: Economics Letters

Year: 2014

Volume: 125

Issue: 1

Pages: 57-60

Authors (2)

Hiraguchi, Ryoji (not in RePEc) Kobayashi, Keiichiro (Research Institute of Economy,...)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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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.

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

Authors (2)

Abstract

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