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Nonsuperneutrality of Money in the Sidrauski Model with Heterogeous Agents

Author

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  • Burkhard Heer

Abstract

Superneutrality is demonstrated to no longer hold in the Sidrauski model as soon as agents are heterogenous with regard to their productivity. However, quantitative effects of inflation on the capital stock are found to be rather small.

Suggested Citation

  • Burkhard Heer, 2003. "Nonsuperneutrality of Money in the Sidrauski Model with Heterogeous Agents," CESifo Working Paper Series 1005, CESifo.
    • Handle: RePEc:ces:ceswps:_1005
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    File URL: https://www.cesifo.org/DocDL/cesifo1_wp1005.pdf
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    Keywords

    superneutrality; Sidrauski model; income heterogeneity;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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