Some benefits of cyclical monetary policy

dc.contributor.author	Cavalcanti, Ricardo de Oliveira
dc.contributor.author	Nosal, Ed
dc.date.accessioned	2008-05-13T15:26:00Z
dc.date.available	2008-05-13T15:26:00Z
dc.date.issued	2005-10-01
dc.identifier.issn	0104-8910
dc.identifier.uri	http://hdl.handle.net/10438/531
dc.description.abstract	In this paper, we present a simple random-matching model of seasons, where di§erent seasons translate into di§erent propensities to consume and produce. We Önd that the cyclical creation and destruction of money is beneÖcial for welfare under a wide variety of circumstances. Our model of seasons can be interpreted as providing support for the creation of the Federal Reserve System, with its mandate of supplying an elastic currency for the nation.	eng
dc.language.iso	eng
dc.publisher	Escola de Pós-Graduação em Economia da FGV	por
dc.relation.ispartofseries	Ensaios Econômicos;603	por
dc.title	Some benefits of cyclical monetary policy	eng
dc.type	Working Paper	eng
dc.subject.area	Economia	por
dc.contributor.unidadefgv	Escolas::EPGE	por
dc.subject.bibliodata	Economia	por
dc.subject.bibliodata	Política monetária - Modelos econométricos	por
dc.contributor.affiliation	FGV