作者：Atkeson, A
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
作者：Levine, DK
作者单位：University of California System; University of California Los Angeles
摘要：This article discusses the paper by Green and Zhou Money as a Mechanism in a Bewley Economy as presented at the second Karaken Conference.
作者：Bhattacharya, J; Haslag, JH; Martin, A
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Iowa State University; University of Missouri System; University of Missouri Columbia
摘要：We study monetary models with nondegenerate stationary distributions of money holdings. We find that the Friedman rule does not typically maximize ex post social welfare. An increase in the rate of growth of the money supply has two effects: the standard distortionary, or rate-of-return, effect makes money a less desirable asset for all moneyholders. A second, redistributive effect, creates a transfer from one type of agent to the other. An increase in the rate of growth of money away from the...
作者：Kocherlakota, NR
作者单位：Stanford University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research
