Matches in SemOpenAlex for { <https://semopenalex.org/work/W3124842196> ?p ?o ?g. }
- W3124842196 endingPage "221" @default.
- W3124842196 startingPage "210" @default.
- W3124842196 abstract "A question at the center of many analyses of optimal monetary policy is, why do central banks never implement the Friedman rule? To the list of answers to this question, we add neoclassical production (specifically, the Tobin effect) as one possible explanation. To that end, we study an overlapping generations economy with capital where limited communication and stochastic relocation create an endogenous transactions role for fiat money. We assume a production function with a knowledge externality (Romer style) that nests economies with endogenous growth (AK form) and those with no long-run growth (the Diamond model). The Tobin effect is shown to be always operative. Under CRRA preferences, a mild degree of social increasing returns is sufficient (but not necessary) for some positive inflation to dominate zero inflation and for the Friedman rule to be sub-optimal, irrespective of the degree of risk aversion." @default.
- W3124842196 created "2021-02-01" @default.
- W3124842196 creator A5064796206 @default.
- W3124842196 creator A5076441799 @default.
- W3124842196 creator A5083790557 @default.
- W3124842196 date "2009-02-01" @default.
- W3124842196 modified "2023-10-12" @default.
- W3124842196 title "Optimal monetary policy and economic growth" @default.
- W3124842196 cites W1989709755 @default.
- W3124842196 cites W2014202157 @default.
- W3124842196 cites W2016944773 @default.
- W3124842196 cites W2022355073 @default.
- W3124842196 cites W2031229145 @default.
- W3124842196 cites W2044802703 @default.
- W3124842196 cites W2056603690 @default.
- W3124842196 cites W2073171162 @default.
- W3124842196 cites W2095209231 @default.
- W3124842196 cites W2122384640 @default.
- W3124842196 cites W2127772013 @default.
- W3124842196 cites W2154043316 @default.
- W3124842196 cites W2155530921 @default.
- W3124842196 cites W2157509893 @default.
- W3124842196 cites W2167486567 @default.
- W3124842196 cites W2168605160 @default.
- W3124842196 cites W2229279647 @default.
- W3124842196 cites W2890507173 @default.
- W3124842196 cites W3122939993 @default.
- W3124842196 cites W3125425335 @default.
- W3124842196 cites W4241321846 @default.
- W3124842196 doi "https://doi.org/10.1016/j.euroecorev.2008.03.003" @default.
- W3124842196 hasPublicationYear "2009" @default.
- W3124842196 type Work @default.
- W3124842196 sameAs 3124842196 @default.
- W3124842196 citedByCount "24" @default.
- W3124842196 countsByYear W31248421962012 @default.
- W3124842196 countsByYear W31248421962013 @default.
- W3124842196 countsByYear W31248421962016 @default.
- W3124842196 countsByYear W31248421962017 @default.
- W3124842196 countsByYear W31248421962018 @default.
- W3124842196 countsByYear W31248421962019 @default.
- W3124842196 countsByYear W31248421962021 @default.
- W3124842196 countsByYear W31248421962022 @default.
- W3124842196 countsByYear W31248421962023 @default.
- W3124842196 crossrefType "journal-article" @default.
- W3124842196 hasAuthorship W3124842196A5064796206 @default.
- W3124842196 hasAuthorship W3124842196A5076441799 @default.
- W3124842196 hasAuthorship W3124842196A5083790557 @default.
- W3124842196 hasBestOaLocation W31248421962 @default.
- W3124842196 hasConcept C121332964 @default.
- W3124842196 hasConcept C126285488 @default.
- W3124842196 hasConcept C16118543 @default.
- W3124842196 hasConcept C162324750 @default.
- W3124842196 hasConcept C166957645 @default.
- W3124842196 hasConcept C175444787 @default.
- W3124842196 hasConcept C190430219 @default.
- W3124842196 hasConcept C199360897 @default.
- W3124842196 hasConcept C200941418 @default.
- W3124842196 hasConcept C205649164 @default.
- W3124842196 hasConcept C2775891139 @default.
- W3124842196 hasConcept C2776943663 @default.
- W3124842196 hasConcept C2777601356 @default.
- W3124842196 hasConcept C2778348673 @default.
- W3124842196 hasConcept C2779019381 @default.
- W3124842196 hasConcept C33332235 @default.
- W3124842196 hasConcept C41008148 @default.
- W3124842196 hasConcept C50522688 @default.
- W3124842196 hasConcept C556758197 @default.
- W3124842196 hasConcept C58640448 @default.
- W3124842196 hasConcept C83646750 @default.
- W3124842196 hasConcept C95457728 @default.
- W3124842196 hasConceptScore W3124842196C121332964 @default.
- W3124842196 hasConceptScore W3124842196C126285488 @default.
- W3124842196 hasConceptScore W3124842196C16118543 @default.
- W3124842196 hasConceptScore W3124842196C162324750 @default.
- W3124842196 hasConceptScore W3124842196C166957645 @default.
- W3124842196 hasConceptScore W3124842196C175444787 @default.
- W3124842196 hasConceptScore W3124842196C190430219 @default.
- W3124842196 hasConceptScore W3124842196C199360897 @default.
- W3124842196 hasConceptScore W3124842196C200941418 @default.
- W3124842196 hasConceptScore W3124842196C205649164 @default.
- W3124842196 hasConceptScore W3124842196C2775891139 @default.
- W3124842196 hasConceptScore W3124842196C2776943663 @default.
- W3124842196 hasConceptScore W3124842196C2777601356 @default.
- W3124842196 hasConceptScore W3124842196C2778348673 @default.
- W3124842196 hasConceptScore W3124842196C2779019381 @default.
- W3124842196 hasConceptScore W3124842196C33332235 @default.
- W3124842196 hasConceptScore W3124842196C41008148 @default.
- W3124842196 hasConceptScore W3124842196C50522688 @default.
- W3124842196 hasConceptScore W3124842196C556758197 @default.
- W3124842196 hasConceptScore W3124842196C58640448 @default.
- W3124842196 hasConceptScore W3124842196C83646750 @default.
- W3124842196 hasConceptScore W3124842196C95457728 @default.
- W3124842196 hasIssue "2" @default.
- W3124842196 hasLocation W31248421961 @default.
- W3124842196 hasLocation W31248421962 @default.
- W3124842196 hasLocation W31248421963 @default.
- W3124842196 hasOpenAccess W3124842196 @default.
- W3124842196 hasPrimaryLocation W31248421961 @default.