| 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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Abstract
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.
