Optimal control of the money supply

Robert Litterman

No 82, Staff Report from Federal Reserve Bank of Minneapolis

Abstract: Using optimal control theory and a vector autoregressive representation of the relationship between money and interest rates, one can derive a feedback control procedure which defines the best possible tradeoff between money supply fluctuations and interest rate volatility and which could be used to reduce both from their current levels.

Date: 1983
New Economics Papers: this item is included in nep-cba and nep-mon
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Related works:
Journal Article: Optimal control of the money supply (1982)
Working Paper: Optimal Control of the Money Supply (1982)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmsr:82

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