Chang, Wen-ya; Chen, Ying-an; Chang, Juin-jen - In: Journal of Macroeconomics 35 (2013) C, pp. 117-130
This paper investigates the economic growth and social welfare implications of monetary policy in an endogenous growth model with endogenous fertility. We show that, in the money-in-the-utility-function framework, endogenous fertility governs the validity of money superneutrality, the...