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Optimality of the Friedman Rule in Economies with Distorting Taxes / V. V. Chari, Lawrence J. Christiano, Patrick J. Kehoe.
- Format:
- Book
- Author/Creator:
- Chari, V. V.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4443.
- NBER working paper series no. w4443
- Language:
- English
- Subjects (All):
- Monetary policy--Mathematical models.
- Monetary policy.
- Friedman, Milton, 1912-2006.
- Friedman, Milton.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1993.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1993.
- Summary:
- We find conditions for the Friedman rule to be optimal in three standard models of money. These conditions are homotheticity and separability assumptions on preferences similar to those in the public finance literature on optimal uniform commodity taxation. We show that there is no connection between our results and the result in the standard public finance literature that intermediate goods should not be taxed.
- Notes:
- Print version record
- August 1993.
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