CRETTEZ, Bertrand; MICHEL, Philippe; WIGNIOLLE, Bertrand - Center for Operations Research and Econometrics (CORE), … - 1998
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 the cash-in-advance constraint. Then we propose a general formulation and study the neutrality of money. We show that both neutrality and...