Superneutrality of Money under Open Market Operations

Stefan Homburg

Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät

Abstract: Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market operations is taken into account.

Keywords: Superneutrality; open market operations; seigniorage; monetary policy; overlapping generations (search for similar items in EconPapers)
JEL-codes: E24 E43 E52 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2015-01, Revised 2015-01
New Economics Papers: this item is included in nep-cba, nep-dge, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Journal Article: Superneutrality of Money under Open Market Operations (2015)
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