S-Space College of Social Sciences (사회과학대학) Institute of Economics Research (경제연구소) Seoul Journal of Economics Seoul Journal of Economics vol.14(4) (Winter 2001)
Optimal Quantity of Money with Two-Sided Altruism
- Kim, KeukSoo
- Issue Date
- Seoul Journal of Economics, Vol.14 No.4, pp. 471-480
- 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.