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Monetary, Fiscal, and Bank Regulatory Policy in a Simple Monetary Growth Model

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Author Info

  • Joydeep Bhattacharya

    (Cornell University, Department of Economics)

  • Mark G. Guzman

    (Cornell University, Department of Economics)

  • Elisabeth Huybens

    ()
    (Centro de Investigacion Economica (CIE), Instituto Tecnologico Autonomo de Mexico (ITAM))

  • Bruce D. Smith

    ()
    (Cornell University, Department of Economics)

Abstract

Most monetary growth models have a relatively simple structure. There are two assets, money and capital, and money is held either because it earns the same real return as capital, or because it is ascribed an advantage in transacting that is not explicitly modelled. Financial market institutions are not present, nor are the financial market frictions that presumably motivate monetary exchange. These are important omissions since, for example, they preclude any discussion of how financial market regulations impact on capital accumulation or the rate of inflation. This is an issue of great importance in development economics.

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Bibliographic Info

Paper provided by Centro de Investigacion Economica, ITAM in its series Working Papers with number 9501.

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Length: 38 pages
Date of creation: Feb 1995
Date of revision:
Handle: RePEc:cie:wpaper:9501

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Cited by:
  1. Caroline Betts & Elisabeth Huybens, 1999. "Financial Market Imperfections, Real Exchange Rates, and Capital Flows," Working Papers, Centro de Investigacion Economica, ITAM 9902, Centro de Investigacion Economica, ITAM.
  2. repec:hal:journl:halshs-00268861 is not listed on IDEAS
  3. Arias Andrés, 2002. "Banking Productivity and Economic Fluctuations: Colombia 1998-2000," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE.
  4. Andrés Felipe Arias, 2000. "The Colombian Banking Crisis: Macroeconomic Consequences And What To Expect," BORRADORES DE ECONOMIA 003573, BANCO DE LA REPÚBLICA.
  5. Joe Haslag & Antoine Martin, 2003. "Optimality of the Friedman Rule in Overlapping Generations Model with Spatial Separation," Working Papers, Department of Economics, University of Missouri 0306, Department of Economics, University of Missouri.
  6. Joseph H. Haslag & Eric R. Young, 1998. "Revenue-maximizing monetary policy," Working Papers 9801, Federal Reserve Bank of Dallas.
  7. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
  8. Andrés F. Arias, . "Banking Productivity and Economic Fluctuations: Colombia 1998-2000," Borradores de Economia 192, Banco de la Republica de Colombia.
  9. Joseph H. Haslag & Antoine Martin, 2005. "Optimality of the Friedman rule in an overlapping generations model with spatial separation," Staff Reports 225, Federal Reserve Bank of New York.
  10. Tarishi Matsuoka, 2011. "Temporary Bubbles and Discount Window Policy," KIER Working Papers 802, Kyoto University, Institute of Economic Research.
  11. Marco Espinosa-Vega & Steven Russell, 2001. "Stability of steady states in a model of pleasant monetarist arithmetic," Working Paper, Federal Reserve Bank of Atlanta 2001-20, Federal Reserve Bank of Atlanta.
  12. Jianhuai Shi, 2002. "The Economic Effects of Inflation Tax Instruments in an Overlapping-Generations Economy with Production," Annals of Economics and Finance, Society for AEF, vol. 3(2), pages 433-451, November.
  13. Andrés Felipe Arias, 2001. "Banking Productivity And Economic Fluctuations: Colombia 1998-2000," BORRADORES DE ECONOMIA 002050, BANCO DE LA REPÚBLICA.
  14. Andrés Felipe Arias, . "The Colombian Banking and Crisis: Macroeconomic Consequences and What to Expect," Borradores de Economia 157, Banco de la Republica de Colombia.

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