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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- Orphanides, Athanasios & Solow, Robert M., 1990. "Money, inflation and growth," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 6, pages 223-261 Elsevier.
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Blackwell Publishing, vol. 24(4), pages 553-62, November.
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Journal of Political Economy,
University of Chicago Press, vol. 93(2), pages 223-47, April.
- Hahn, Frank, 1990. "On Inflation," Oxford Review of Economic Policy, Oxford University Press, vol. 6(4), pages 15-25, Winter.
- 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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