A question at the center of many analyses of optimal monetary policy is, why do central banks never implement the Friedman rule? To the list of answers to this question, we add neoclassical production (specifically, the Tobin effect) as one possible explanation. To that end, we study an...

Rejuveniles are "people who cultivate tastes and mind-sets traditionally associated with those younger than themselves" [Noxon, C., 2006. Rejuvenile. Crown Publishers]. In this paper, we study a standard AK growth model of overlapping generations populated by rejuveniles. For our purposes,...