The Optimal Rate of Money Creation in an Overlapping Generations Model : Numerical Simulations for the U.S. Economy /
This paper develops a large scale overlapping generations model and calibrates it for the U.S. economy. Simulations with the model show that the steady state welfare maximizing inflation rate may be positive, although the numerical results are not robust. It is also shown, however, that increases in...
| 第一著者: | |
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| フォーマット: | 雑誌 |
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
1992.
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| シリーズ: | IMF Working Papers; Working Paper ;
No. 1992/037 |
| オンライン･アクセス: | Full text available on IMF |