Inflation aversion and macroeconomic policy in a perfect foresight monetary model

被引：2

作者：

Wang, Gaowang ^{[1
]}

Zou, Heng-fu ^{[1
,2
,3
]}

机构：

[1] Wuhan Univ, Inst Adv Study, Sch Econ & Management, Wuhan 430072, Peoples R China

[2] Cent Univ Finance & Econ, China Econ & Management Acad, Beijing 100081, Peoples R China

[3] Shenzhen Univ, Inst Adv Study, Shenzhen 518060, Peoples R China

来源：

ECONOMIC MODELLING | 2011年 / 28卷 / 04期

关键词：

Inflation aversion; Endogenous time preference; Monetary superneutrality; Optimum quantity of money; FRIEDMAN RULE; ECONOMIC-GROWTH; MONEY; DYNAMICS; TAXES;

D O I：

10.1016/j.econmod.2011.03.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper reexamines monetary non-superneutrality and the optimality of the optimum quantity of money in the money-in-utility Sidrauski model with endogenous fluctuations of the time preference by introducing inflation aversion. It is shown that the long-run superneutrality of the standard Sidrauski model does not hold, and Friedman's optimum quantity of money is not optimal. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：1802 / 1807

页数：6

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