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Denicolò, Vincenzo
(1989)
On the Optiml Variance of Money.
Bologna:
Dipartimento di Scienze economiche DSE,
p. 14.
DOI 10.6092/unibo/amsacta/5336.
In: Quaderni - Working Paper DSE
(74).
ISSN 2282-6483.
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Abstract
This paper analyses some monetary policy issues in a model of business cycle derived from Lucas (1972). We show that an autoregressive monetary policy rule may dominate a k-percent rule, and that the optimal monetary policy is characterised by an infinite amount of noise.
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