Article ID Journal Published Year Pages File Type
965950 Journal of Macroeconomics 2011 16 Pages PDF
Abstract
► The money-age distribution is hump-shaped for the US post-war economy. ► There is no clear-cut relation between the variation of money holdings within generations and age. ► Money is only weakly correlated with both income and wealth. ► We analyze three motives for money demand in an OLG setup to explain these observations. ► None of the three models satisfactorily explains these stylized facts.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
The money-age distribution: Empirical facts and the limits of three monetary models
Authors
, , ,