Money, Growth and Finite Horizons
The 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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- Olivier J. Blanchard, 1984.
"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,"
8-89-4, Pennsylvania State - Department of Economics.
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