On the Optiml Variance of Money

V. Denicolo'
Authors registered in the RePEc Author Service: Vincenzo Denicolo' ()

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: This paper analyses some monetary policy issues in a model of business cycle derived from Lucas (1972). We show that an autoregressive monetary policy rule may dominate a k-percent rule, and that the optimal monetary policy is characterised by an infinite amount of noise.

Date: 1989-07
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Persistent link: https://EconPapers.repec.org/RePEc:bol:bodewp:74

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