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in an OLG model with money: Each gen picks 12 banans when young, 4 bananas when old. Central bank prints out 2 units of money,
in an OLG model with money:
Each gen picks 12 banans when young, 4 bananas when old.
Central bank prints out 2 units of money, given to gen 0 for free.
In equilibrium, 1 money = ______ bananas.
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Foundations of Macroeconomics
Authors: Robin Bade, Michael Parkin
6th edition
132831007, 978-0132831000
