Translator Disclaimer
VOL. 53 | 2009 Inefficacy of temporary policy in Neumeyer=Yano's monetary model
Atsumasa Kondo

Editor(s) Saber Elaydi, Kazuo Nishimura, Mitsuhiro Shishikura, Nobuyuki Tose

Abstract

In this paper, we explore the effects of temporary policy in a dynamic general equilibrium by using Neumeyer and Yano's money-in-utility model. Even under dynamic interaction between consumers through markets, the impact of temporary policy both on the present and future economy is very small if the long-run interest rate level is low, which coincides with the intuitive explanation by the permanent income hypothesis.

Information

Published: 1 January 2009
First available in Project Euclid: 28 November 2018

zbMATH: 1183.91093
MathSciNet: MR2582410

Digital Object Identifier: 10.2969/aspm/05310113

Rights: Copyright © 2009 Mathematical Society of Japan

PROCEEDINGS ARTICLE
8 PAGES


SHARE
Back to Top