Alternative Approaches to Monetary Economics of Overlapping-Generations

Giuseppe Chirichiello
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Giuseppe Chirichiello: University of Rome

Chapter 5 in Intertemporal Macroeconomic Models, Money and Rational Choices, 2000, pp 140-180 from Palgrave Macmillan

Abstract: Abstract In this chapter we examine the monetary model of overlapping generations and the wide variety of dynamic behaviour it admits. As we have seen, a monetary growth model admitting infinite-lived optimizing agents highlights the role of money, and, in particular, the effects of money on social welfare, the optimality of some types of monetary policy, the admissibility of monetary instability. The question to investigate is whether these are results peculiar to Ramsey-type infinite horizon models or are characteristic of dynamic competitive economies populated by rational agents.

Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-97742-2_5

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DOI: 10.1057/9780333977422_5

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