Berentsen, Aleksander; Waller, Christopher - 2009
stochastic general equilibrium model to study optimal
monetary stabilization policy. Prices are fully �exible and money is … of real business
cycle models, constructs dynamic stochastic general equilibrium models to study optimal
stabilization …
frictions that money overcomes.2 We construct a dynamic stochastic general equilibrium
1See, for example, Woodford (2003 …