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

Ryoji Hiraguchi and Keiichiro Kobayashi

Economics Letters, 2014, vol. 125, issue 1, 57-60

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.

Keywords: Monetary policy; Friedman rule; Search (search for similar items in EconPapers)
JEL-codes: E1 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Working Paper: On the optimality of the Friedman Rule in a New Monetarist Model (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:125:y:2014:i:1:p:57-60

DOI: 10.1016/j.econlet.2014.08.002

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