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In the framework of a standard overlapping generations model, it is shown that active inflation forecast targeting reinforces mechanisms that lead to indeterminacy of the monetary steady state and to countercyclical behavior of young-age consumption. The inflation forecast targeting rule which...
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This paper studies the growth dynamics of a developing country under migration. Assuming that human capital formation is subject to a strong enough, positive intertemporal externality, the prospect of migration will increase growth in the home country in the long run. If the external effect is...
Persistent link: https://www.econbiz.de/10009766452
This paper studies the growth dynamics of a developing country under migration. Assuming that human capital formation is subject to a strong enough, positive intertemporal externality, the prospect of migration will increase growth in the home country in the long run. If the external effect is...
Persistent link: https://www.econbiz.de/10009775568
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