Why do monetary policies matter? An experimental study of saving and inflation in an overlapping generations model
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چکیده
منابع مشابه
Why do monetary policies matter? An experimental study of saving and inflation in an overlapping generations model
We study experiments of an overlapping generations model where inflation is determined by the monetary policy and by the amount of average saving within each period. We use a new experimental setup that allows us to observe more details of the process of expectation forming and separate this process from the actual saving process. In contrast to experimental findings by Lim, Prescott, Sunder; M...
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In the classical growth model, with overlapping generations and continuous time starting at −∞, generically there exist a unique equilibrium in the policy-neighbourhood of any balanced growth equibrium as shown in [4]. Policies are endowment perturbations. In this paper we show that, for any such equilibrium selection, welfare is differentiable, and that the derivative at the balanced growth eq...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2000
ISSN: 0304-3932
DOI: 10.1016/s0304-3932(00)00030-1