Does Monetary Policy Have Expansionary Bias with External Wealth?

Satoko Takamatsu

Hitotsubashi Journal of Economics, 2008, vol. 49, issue 1, 1-10

Abstract: This paper investigates how the accumulation of external wealth affects a monetary policy. We demonstrate that though an expansionary bias emerges in a monetary policy, a fiscal method can eliminate such a bias.

Keywords: external wealth; monetary policy; corrective tax policies (search for similar items in EconPapers)
JEL-codes: E52 F41 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:49:y:2008:i:1:p:1-10

DOI: 10.15057/15880

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