| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5083854 | International Review of Economics & Finance | 2013 | 10 Pages |
Abstract
⺠Holding money is risky due to theft. ⺠Monetary policy has persistent distributional effects on theft and consumption. ⺠Theft can alleviate consumption fluctuations arising from monetary policy. ⺠Depending on a stealing technology, a monetary equilibrium could be unsustainable. ⺠The optimal money growth rate may be positive and the Friedman rule is suboptimal.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Hyung Sun Choi,