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|Title: ||Money, Endogenous Fertility and Economic Growth|
|Authors: ||Petrucci, Alberto|
|Keywords: ||Money superneutrality; Inflation; Fertility; Capital accumulation|
|Issue Date: ||14-Apr-2003|
|Abstract: ||This paper analyzes the issue of money superneutrality through an intertemporal
optimizing model of capital accumulation with endogenous fertility, i.e. endogenous
population growth. Two elements of this setup invalidate money superneutrality:
i) a demand for fertility that depends on real money balances,
and ii) an inverse relation between capital-labor ratio and population growth.
Higher monetary growth increases fertility, since it reduces its opportunity cost,
and hence diminishes capi|
|Appears in Collections:||4 - REPEC|
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