再分配与最优货币政策

Journal of Economic Theory and Econometrics Pub Date : 2018-12-01 DOI:10.22812/JETEM.2018.29.4.003

Daeha Cho, K. Kim

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引用次数: 0

摘要

本文从代表-代理人假设出发，研究了在双代理人新凯恩斯模型下如何实施最优货币政策。相对于典型出现在代表代理新凯恩斯(RANK)模型中作为政策处方的价格稳定动机，异质性增加了在所有家庭中平均传播总波动的动机。我们表明，后一种动机取决于财政转移如何随商业周期实施。

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Redistribution and Optimal Monetary Policy

This paper departs from the representative-agent assumption and investigates how optimal monetary policy should be conducted in a two-agent New Keynesian (TANK) model. Relative to a price stability motive that typically appears as policy prescriptions in representative-agent New Keynesian (RANK) models, heterogeneity adds a motive to spread aggregate fluctuations equally across all households. We show that the latter motive hinges on how fiscal transfers are implemented with the business cycle.

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来源期刊

Journal of Economic Theory and Econometrics Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

0.40

自引率

0.00%

发文量