Policy Uncertainty and Informational Monopolies: The Case of Monetary Policy

Working papers from Wisconsin Madison - Social Systems

Abstract: In this paper we have presented a model in which perfectly enticipated inflation is superneutral: if the variance of the money (or the growth rate of the money supply in the dynamic interpretation) supply is zero, the real equilibrium is independent of the mean of the money supply.

Keywords: ECONOMIC MODELS; INFLATION; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E40 E42 (search for similar items in EconPapers)
Pages: 60 pages
Date: 1997
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Citations: View citations in EconPapers (2)

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