Hilde E. Patron  Home/Search
Context
Related
| umn.edu/~econdept/HildePatron.pdf Cached: PDF This document uses CoBlitz to cache paper downloads. If your firewall is blocking outgoing connections to port 3125, you can use these links to download local copies.
PS.gz PS Image Update HelpFrom: umn.edu/~econdept...theoryprogram (more) (Enter author homepages) |
Rate this article:      (best)Comment on this article |
Abstract: : In this paper we present a model in which the government can only finance itself with the income from money creation (seignorage), it is uncertain about the parameters of the money demand function, and can learn about them in a Bayesian fashion. We present the conditions under which learning is valuable, and under which the optimal response to uncertainty is a monetary expansion. We find that if there are no large liquidity or Tobin effects, and if the government is very uncertain about... (Update)
Similar documents based on text: More All
0.2: Public Debt and the Price Level - Woodford (1998) (Correct)
0.1: Fiscal Requirements for Price Stability - Woodford (2000) (Correct)
0.1: Government Mandated Private Pensions: A Dependable.. - Rowena Pecchenino.. (Correct)
BibTeX entry: (Update)
@misc{ patron-uncertainty,
author = "Hilde E. Patron",
title = "Uncertainty, Learning, and Seignorage Maximizing Governments.",
url = "citeseer.ist.psu.edu/patron00uncertainty.html" }
Citations (may not include all citations):16 Advanced Macroeconomics (context) - ROMER - 1996
15 The Role of Monetary Policy (context) - FRIEDMAN - 1968
15 Equivalent Comparisons of Experiments (context) - BLACKWELL - 1953
13 The Theory of Interest (context) - FISHER - 1930
12 Why are Stabilizations Delayed (context) - ALESINA, DRAZEN - 1991
11 Comparison of Experiments (context) - BLACKWELL - 1951
5 The Monetary Dynamics of Hyperinflation (context) - CAGAN - 1956
4 The Multiperiod Control Problem under Uncertainty (context) - PRESCOTT - 1972
4 Controlling a Stochastic Process with Unknown Parameters (context) - EASLEY, KIEFER - 1988
3 Monetary Policy as a Process of Search (context) - CAPLIN, LEAHY - 1996
2 Optimal learning with Endogenous Data (context) - EASLEY, KIEFER - 1989
2 Inflation Variability and Gradualist Monetary Policy (context) - BALVERS, COSIMANO - 1994
2 Government Revenue from Inflation (context) - FRIEDMAN - 1971
1 The Economics of Inflation: A Study of Currency Depreciation.. (context) - BRESCIANI-TURRONI - 1937
1 Optimal Choice of Monetary Instruments in a Simple Stochasti.. (context) - POOLE - 1970
[Article contains additional citations not shown here]
Documents on the same site (http://www.econ.umn.edu/~econdept/theoryprogram.html): More
The Evolution Of Exchange - Ben-Shoham, Serrano, Volij (2000) (Correct)
The core of large differentiable TU Games - Epstein, Marinacci (2000) (Correct)
A Model of Retrading in Market Games - Ghosal, Morelli (2000) (Correct)
Online articles have much greater impact More about CiteSeer.IST Add search form to your site Submit documents Feedback
CiteSeer.IST - Copyright Penn State and NEC