Money, Growth and Finite Horizons
AbstractThe implications of endogenous labor supply for money superneutrality in OLG economies are analyzed. Inflation increases capital and output, while it affects labor ambiguously in a closed economy. Inflation reduces capital and output, but stimulates wealth in an open economy.
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Bibliographic InfoPaper provided by University of Molise, Dept. EGSeI in its series Economics & Statistics Discussion Papers with number esdp04018.
Length: 9 pages
Date of creation: 08 Jul 2004
Date of revision:
Inflation; Capital accumulation; Labor supply; Overlapping generations.;
Other versions of this item:
- 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
- O42 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-11 (All new papers)
- NEP-MAC-2004-07-11 (Macroeconomics)
- NEP-MON-2004-07-11 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Debt, Deficits and Finite Horizons,"
NBER Working Papers
1389, National Bureau of Economic Research, Inc.
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"Alternative Approaches to Money and Growth,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 24(4), pages 553-62, November.
- Van Der Ploeg, Frederick & Marini, Giancarlo, 1988. "Finite horizons and the non-neutrality of money," Economics Letters, Elsevier, vol. 26(1), pages 57-61.
- Drazen, Allan, 1981. "Inflation and capital accumulation under a finite horizon," Journal of Monetary Economics, Elsevier, vol. 8(2), pages 247-260.
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