Title: Monetary policy and dynamic efficiency in economies of overlapping generations
Abstract:In an economy of overlapping generations, money, distinct from debt, provides liquidity and is dominated as a store of value. Nominal rates of interest that are low, but do not vanish, eliminate equil...In an economy of overlapping generations, money, distinct from debt, provides liquidity and is dominated as a store of value. Nominal rates of interest that are low, but do not vanish, eliminate equilibrium allocations far from Pareto optimal allocations.Read More
Publication Year: 2006
Publication Date: 2006-09-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 3
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