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Una nota sobre política monetaria óptima

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  • Esther Fernández

    (Universidad Complutense de Madrid)

Abstract

En este trabajo se analiza cuál es la política monetaria óptima bajo una regla de gasto público no habitual en la literatura: el gasto representa un porcentaje constante en la producción. En este caso, dado que el ritmo de crecimiento de la oferta monetaria influye sobre el nivel de producción, el nivel de gasto dependerá del valor que tome dicho instrumento. Se muestra que la validez de la regla de Friedman depende del valor del ratio consumo público/producción. (Copyright: Fundación SEPI)

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Article provided by Fundación SEPI in its journal Investigaciones Económicas.

Volume (Year): 28 (2004)
Issue (Month): 3 (September)
Pages: 535-550

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Handle: RePEc:iec:inveco:v:28:y:2004:i:3:p:535-550

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Related research

Keywords: Impuesto inflacionario óptimo; restricción de efectivo por adelantado.;

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References

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  1. Kimbrough, Kent P., 1986. "The optimum quantity of money rule in the theory of public finance," Journal of Monetary Economics, Elsevier, vol. 18(3), pages 277-284, November.
  2. V. V. Chari & Lawrence J. Christiano & Patrick J. Kehoe, 1993. "Optimality of the Friedman Rule in Economies with Distorting Taxes," NBER Working Papers 4443, National Bureau of Economic Research, Inc.
  3. Calvo, Guillermo A & Vegh, Carlos A, 1996. "Disinflation and Interest-Bearing Money," Economic Journal, Royal Economic Society, vol. 106(439), pages 1546-63, November.
  4. Lucas, Robert Jr. & Stokey, Nancy L., 1983. "Optimal fiscal and monetary policy in an economy without capital," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 55-93.
  5. Lucas, Robert Jr., 1990. "Liquidity and interest rates," Journal of Economic Theory, Elsevier, vol. 50(2), pages 237-264, April.
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