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Optimal Quantity of Money with Two-Sided Altruism
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- Authors
- Issue Date
- 2001-10
- Citation
- Seoul Journal of Economics, Vol.14 No.4, pp. 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
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