Money Growth, Dynamic Efficiency and Asset Bubbles in a Perpetual Youth Model

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

Abstract

We consider a perpetual youth model in which real balances are an argument of the utility function. We show that dynamic efficiency is compatible with a positive inflation rate, and that the higher inflation, the larger is the size of the bubble required to remove the inefficiency.
Lingua originaleEnglish
pagine (da-a)68-71
Numero di pagine4
RivistaEconomics Letters
Volume2016/138
Stato di pubblicazionePubblicato - 2016

Keywords

  • Asset bubbles, dynamic inefficiency, money growth

Fingerprint

Entra nei temi di ricerca di 'Money Growth, Dynamic Efficiency and Asset Bubbles in a Perpetual Youth Model'. Insieme formano una fingerprint unica.

Cita questo