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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- Blanchard, Olivier J, 1985.
"Debt, Deficits, and Finite Horizons,"
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8-89-4, Pennsylvania State - Department of Economics.
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