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Optimal Quantity of Money with Two-Sided Altruism

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Authors
Kim, KeukSoo
Issue Date
2001
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 14 (No. 4 2001): 471-480
Keywords
Optimal quantity of money; Two-sided altruism
Abstract
This paper examines optimal monetary policy in an overlapping generations economy where agent s exhibit altruism toward both their parents and offspring. It has shown that inflation is optimal for an equilibrium in which only gift motive is operative. We note this as an interesting exception to the Friedman rule.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1258
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.14(4) (Winter 2001)
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