A Monetary Search Model with Non-unitary Discounting

Autor:	Daiki Maeda
Rok vydání:	2019
Předmět:	Discounting Extension (metaphysics) Search model ComputerApplications_GENERAL Monetary policy Economics TheoryofComputation_GENERAL Behavioral economics Mathematical economics Unitary state Friedman rule
Zdroj:	SSRN Electronic Journal.
ISSN:	1556-5068
DOI:	10.2139/ssrn.3458766
Popis:	Based on findings in the behavioral economics literature, I incorporate non-unitary discounting into a monetary search model to study optimal monetary policy. I apply non-unitary discounting, that is, discount rates that are different across goods. With this extension to the model, I find that there are cases where optimal monetary policy deviates from the Friedman rule.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::05142663d7bb9c362f019f999448a0ce https://doi.org/10.2139/ssrn.3458766 Zobrazit plný text záznamu