Optimal Monetary Policy in a Pure Currency Economy with Heterogenous Agents
Leo Ferraris () and
Fabrizio Mattesini ()
Additional contact information
Leo Ferraris: DEF & CEIS,University of Rome Tor Vergata, http://www.ceistorvergata.it
No 394, CEIS Research Paper from Tor Vergata University, CEIS
This paper shows that, in a pure currency economy with heterogeneous agents and multiple commodities, a pecuniary externality plays a key role in making the equilibrium allocation constrained inefficient. Monetary policy intervention can help improve matters.
Keywords: Money; Heterogeneity; Pecuniary Externality; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E40 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2016-12-17, Revised 2017-02-02
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.ceistorvergata.it/repec/rpaper/RP394.pdf Main text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rtv:ceisrp:394
Ordering information: This working paper can be ordered from
CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
Access Statistics for this paper
More papers in CEIS Research Paper from Tor Vergata University, CEIS CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma. Contact information at EDIRC.
Bibliographic data for series maintained by Barbara Piazzi ().