Superneutrality of Money under Open Market Operations
نویسندگان
چکیده
منابع مشابه
Superneutrality of Money under Open Market Operations
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market operations is taken into account. This result suggests that a more realistic representation of monetar...
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ژورنال
عنوان ژورنال: Review of Economics
سال: 2015
ISSN: 0948-5139,2366-035X
DOI: 10.1515/roe-2015-1003