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Monetary Uncertainty in Discrete-Time Utility-of-Money Models

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  • Rankin, N.

Abstract

In a discrete-time model, higher variability of the future money supply affects current macroeconomic variables when beginning-of-period money is the argument of utility, but not when end-of-period money is. The effect is through the existence of a precautionary money demand
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Suggested Citation

  • Rankin, N., 1993. "Monetary Uncertainty in Discrete-Time Utility-of-Money Models," The Warwick Economics Research Paper Series (TWERPS) 408, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:408
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    Cited by:

    1. Rankin, Neil, 1998. "Nominal rigidity and monetary uncertainty in a small open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 22(5), pages 679-702, May.
    2. Jensen, Henrik & Ravn, Søren Hove & Santoro, Emiliano, 2019. "Kinks and Gains from Credit Cycles," CEPR Discussion Papers 13795, C.E.P.R. Discussion Papers.
    3. Rankin, Neil, 1998. "Nominal rigidity and monetary uncertainty," European Economic Review, Elsevier, vol. 42(1), pages 185-199, January.
    4. The Pham, 2011. "Growth, volatility and stabilisation policy in a DSGE model with nominal rigidities and learning-by-doing," International Economics and Economic Policy, Springer, vol. 8(3), pages 307-322, September.

    More about this item

    Keywords

    money ; risk ; economic models;
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