Interest rate rules vs. money growth rules a welfare comparison in a cash-in-advance economy
AbstractA consideration of the welfare consequences of two simple monetary policy rules--an interest rate peg and a money growth peg--in a dynamic general-equilibrium model, indicating that the interest rate rule dominates the money growth rule.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Monetary Economics.
Volume (Year): 36 (1995)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/inca/505566
Other versions of this item:
- Charles T. Carlstrom & Timothy S. Fuerst, 1995. "Interest rate rules vs. money growth rules: a welfare comparison in a cash-in-advance economy," Working Paper 9504, Federal Reserve Bank of Cleveland.
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