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A Role for Monetary Policy when Prices reveal Information : An Example

  • POLEMARCHAKIS, Heracles

    (CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium)

  • SECCIA, Giulio

    (CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium)

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    In an example, monetary policy can determine the information revealed by prices, and thus it can be effective, even desirable.

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    Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1994074.

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    Date of creation: 01 Dec 1994
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    Handle: RePEc:cor:louvco:1994074
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    1. Magill, M. & Quinzii, M., 1992. "Real effects of money in general equilibrium," Journal of Mathematical Economics, Elsevier, vol. 21(4), pages 301-342.
    2. Detemple, J. & Gottardi, P. & Polemarchakis, H., 1990. "The relevance of financial policy," CORE Discussion Papers 1990011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    3. Polemarchakis, H M & Siconolfi, P, 1993. "Asset Markets and the Information Revealed by Prices," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(4), pages 645-61, October.
    4. Geanakoplos, John & Mas-Colell, Andreu, 1989. "Real indeterminacy with financial assets," Journal of Economic Theory, Elsevier, vol. 47(1), pages 22-38, February.
    5. Rahi, Rohit, 1995. "Partially revealing rational expectations equilibria with nominal assets," Journal of Mathematical Economics, Elsevier, vol. 24(2), pages 137-146.
    6. Radner, Roy, 1979. "Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices," Econometrica, Econometric Society, vol. 47(3), pages 655-78, May.
    7. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    8. K. Mischel & H. M. Polemarchakis & P. Siconolfi, 1990. "Non-Informative Rational Expectations Equilibria When Assets are Nominal: An Example*," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 15(1), pages 73-79, March.
    9. J. Tobin, 1958. "Liquidity Preference as Behavior Towards Risk," Review of Economic Studies, Oxford University Press, vol. 25(2), pages 65-86.
    10. Mischel, K. & Polemarchakis, H. & Siconolfi, P., 1990. "Noninformative rational expectations equilibria when assets are nominal: an exemple," CORE Discussion Papers 1990012, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    11. Roy Radner, 1997. "Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices," Levine's Working Paper Archive 1594, David K. Levine.
    12. Christophe Chamley & Herakles Polemarchakis, 1984. "Assets, General Equilibrium and the Neutrality of Money," Review of Economic Studies, Oxford University Press, vol. 51(1), pages 129-138.
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