The Optimal Quantity of Money in Overlapping Generations Models and in Models with a Representative Consumer
AbstractFor modern macroeconomic theory the infinitely lived representative agent model and the overlapping generations model, are the two most important frameworks of analysis. Both models form a unified approach in the sense that they are competitive general equilibrium models. When it comes to monetary policy however both models give a different answer to the question of the optimal quantity of money. This paper takes a first step in comparing these two different results.
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Bibliographic InfoPaper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 96-12.
Length: 14 pages
Date of creation: 1996
Date of revision:
GENERAL EQUILIBRIUM; MONEY; MONETARY THEORY; MONETARY POLICY;
Find related papers by JEL classification:
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
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