In this paper we argue that inventory models are probably not useful
models of household money demand because the majority of households does not
hold any interest bearing assets. The relevant decision for most people ...
166 countries have some kind of public old age pension. What economic forces
create and sustain old age Social Security as a public program? We document
some of the internationally and historically common features of ...
In this paper we propose a simple and general model for computing the
Ramsey optimal inflation tax, which includes several models from the
previous literature as special cases. We show that it cannot be claimed
that ...
