Working Paper
Nonsuperneutrality of Money in the Sidrauski Model with Heterogeous Agents
Burkhard Heer
CESifo, Munich, 2003
CESifo Working Paper No. 1005
CESifo, Munich, 2003
CESifo Working Paper No. 1005
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.
Keywords: superneutrality, Sidrauski model, income heterogeneity