Russell Boyer

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Can nominal contracts create monetary nonneutrality if they arise endogenously in general equilibrium? Yes, if (1) agents have complete information about the money stock and (2) shocks to the system are purely redistributive and private information, precluding conventional insurance markets. Without contracts, money is neutral toward aggregate quantities.(More)
In an ideal world we would have all the information we need, and that information would be completely accurate. Since we do not have an ideal world we must plan and operate the power system with the information that is available. The following describes two approaches to deal with primary governing and frequency issues where some of the data and models are(More)
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