Contraintes de liquidités dans le modèle à générations imbriquées de Diamond. Neutralité des politiques monétaires et dynamique macroéconomique

Philippe Michel, Bertrand Crettez and Bertrand Wigniolle

Revue Économique, 1998, vol. 49, issue 3, 677-685

Abstract: [fre] Cash-in-advance constraints in the overlapping generations model : neutrality of monetary policies and macro-dynamics. . This article is concerned with the role of money in an O.L.G. model. Money is introduced through a cash-in-advance constraint. We show that money is super-neutral if the structure of money repartition does not depend on the money growth rate. We study the dynamics, and the influence of money transfers on capital accumulation. [eng] Cash-in-advance constraints in the overlapping generations model : neutrality of monetary policies and macro-dynamics. . This article is concerned with the role of money in an O.L.G. model. Money is introduced through a cash-in-advance constraint. We show that money is super-neutral if the structure of money repartition does not depend on the money growth rate. We study the dynamics, and the influence of money transfers on capital accumulation.

Date: 1998
Note: DOI:10.3406/reco.1998.410000
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