EconPapers    
Economics at your fingertips  
 

Rivalrous Money Supply among Overlapping Generations

Dan Bernhardt and Merwan Engineer ()

Canadian Journal of Economics, 1994, vol. 27, issue 2, 494-504

Abstract: This note explores endogenous rivalrous money supply by different generations of an overlapping generations economy. Money (gold) is intrinsically useless but is costly to create. The authors show how a government representing the young has an incentive to tax its constituency to mine gold to redistribute among the young in order to inflate the aggregate money stock and thereby reduce the value of the money holdings of the old. This additional money also reduces the inflationary impact of the money creation by the succeeding generation. Equilibrium dynamics of prices and consumption are explored.

Date: 1994
References: Add references at CitEc
Citations:

Downloads: (external link)
http://links.jstor.org/sici?sici=0008-4085%2819940 ... MSAOG%3E2.0.CO%3B2-Y (text/html)
only available to JSTOR subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cje:issued:v:27:y:1994:i:2:p:494-504

Ordering information: This journal article can be ordered from
https://www.economic ... ionen/membership.php

Access Statistics for this article

Canadian Journal of Economics is currently edited by Zhiqi Chen

More articles in Canadian Journal of Economics from Canadian Economics Association Canadian Economics Association Prof. Werrner Antweiler, Treasurer UBC Sauder School of Business 2053 Main Mall Vancouver, BC, V6T 1Z2. Contact information at EDIRC.
Bibliographic data for series maintained by Prof. Werner Antweiler ().

 
Page updated 2025-03-22
Handle: RePEc:cje:issued:v:27:y:1994:i:2:p:494-504