Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/117719
Authors: 
Homburg, Stefan
Year of Publication: 
2015
Series/Report no.: 
Discussion Paper, Wirtschaftswissenschaftliche Fakultät, Leibniz University of Hannover 541
Abstract: 
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market operations is taken into account. This result suggests that a more realistic representation of monetary policy may generally be helpful.
Subjects: 
superneutrality
open market operations
seigniorage
monetary policy
overlapping generations
JEL: 
E5
H27
H55
Document Type: 
Working Paper

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