Purpose: We augment an otherwise standard business cycle model with a richer government sector, and add money-in-utility … (MIU) considerations to study economic fluctuations. Design/methodology/approach: More specifically, real money balances …

Purpose The author augments an otherwise standard business cycle model with a richer government sector and adds money-in-utility … (MIU) considerations to study economic fluctuations. Design/methodology/approach More specifically, real money balances …