Superneutrality of Money under Open Market Operations
Autor: Stefan Homburg
Nummer: 541, Jan 2015, pp. 13
JEL-Class: E24, E43, E52
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.
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