Cash-in-Advance Constraints in the Diamond Overlapping Generations Model: Neutrality and Optimality of Monetary Policies.

This paper is a study of money in overlapping generations models with cash-in-advance constraints. We first offer a brief review of different features of cash-in-advance constraint. Then we propose a general formulation and study the neutrality of money. We show that both neutrality and equilibrium dynmics depend on the from of the cash-in-advance constraint.

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Year of publication:	1998
Authors:	Crettez, B. ; Michel, P. ; Wigniolle, B.
Institutions:	Center for Operations Research and Econometrics (CORE), École des Sciences Économiques de Louvain
Subject:	MACROECONOMICS \| PRICES \| BUSINESS CYCLES

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Series:	Papers.
Type of publication:	Book / Working Paper
Notes:	29 pages
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; E31 - Price Level; Inflation; Deflation ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005478952