Comment on “the Distribution of Money Balances and the Non-neutrality of Money,” by Aleksander Berentsen, Gabriele Camera,

@inproceedings{Berentsen2005CommentO,
  title={Comment on “the Distribution of Money Balances and the Non-neutrality of Money,” by Aleksander Berentsen, Gabriele Camera,},
  author={Aleksander Berentsen and Gabriele Camera and Christopher Waller},
  year={2005}
}
Berentsen, Camera, and Waller (henceforth BCW) have written a nice piece that illustrates the effects of monetary policy when the distribution of money balances is non-degenerate across the population at the time of a policy action. The model is very helpful in addressing the issues at hand, and I felt that the article is, in general, quite instructive… CONTINUE READING