|Author Name||KOBAYASHI Keiichiro (Faculty Fellow, RIETI)|
|Creation Date/NO.||October 2019 19-P-028|
|Research Project||Microeconomics, Macroeconomics, and Political Philosophy toward Economic Growth|
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We propose a theoretical argument for a new rational expectations equilibrium hypothesis in the intergenerational economy, where each generation is intergenerationally altruistic and rational. The intergenerationally-rational expectations equilibrium implies that deflation can continue under an extreme increase in money supply.