Robert Schuman Centre for Advanced Studies (RSCAS)
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Browsing Robert Schuman Centre for Advanced Studies (RSCAS) by Subject
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Browsing Robert Schuman Centre for Advanced Studies (RSCAS) by Subject "seigniorage"
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Title:Stable Sunspot Equilibria in a Cash-In-Advance Economy
Author(s):EVANS, George W.; HONKAPOHJA, Seppo M. S.; MARIMON, RamonDate:2007Type of Publication:ArticleAbstract:We analyze a monetary model with flexible labor supply, cash-in-advance constraints, and seigniorage- and tax-financed government spending. If the intertemporal elasticity of substitution of labor is greater than one, both ...