Non-Neutral Responses to Money Supply Shocks when Consumption and Leisure are Pareto Substitutes
To a greater extent than is often stressed in extant literature, preference assumptions affect responses to monetary shocks in representative agents models. Temporary money shocks can have persistent real effects in cash in advance models if the marginal utility of leaisure is a decreasing function of consumption, where leisure is measured as time endowment less market labor effort, and consumption refers to market produced goods.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1996|
|Contact details of provider:|| Postal: Krannert Building, West Lafayette, IN 47907|
Web page: http://www.krannert.purdue.edu/programs/phd
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:pur:prukra:1090. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Krannert PHD)
If references are entirely missing, you can add them using this form.