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- W2044332579 abstract "Abstract Within the context of a two-period-lived overlapping generations monetary economy, I define an equilibrium policy as a competitive equilibrium in which agents in their second period of life determine the economy's rates of labor income tax and money supply growth on a period-by-period basis. A numerical example shows that equilibrium policy can be unique and either Pareto undominated or dominated. Since agents are assumed to behave as if their policy choices have no intertemporal effects, the existence of undominated equilibrium policies is only consistent with financing relatively small levels of government expenditure." @default.
- W2044332579 created "2016-06-24" @default.
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- W2044332579 date "1995-03-01" @default.
- W2044332579 modified "2023-09-27" @default.
- W2044332579 title "Equilibrium policy with dynamically naive agents" @default.
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- W2044332579 doi "https://doi.org/10.1016/0164-0704(95)80104-9" @default.
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