AbstractWith inflation aversion, an increase in the monetary growth rate decreases the steady-state value of capital stock, consumption, and real balance holding.
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Bibliographic InfoPaper provided by China Economics and Management Academy, Central University of Finance and Economics in its series CEMA Working Papers with number 481.
Length: 11 pages
Date of creation: 2011
Date of revision:
Publication status: Published in Annals of Economics and Finance, May 2011, pages 1-11
Inflation aversion; Capital accumulation; Money;
Other versions of this item:
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-22 (All new papers)
- NEP-CBA-2011-08-22 (Central Banking)
- NEP-MON-2011-08-22 (Monetary Economics)
- NEP-UPT-2011-08-22 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Obstfeld, Maurice, 1981.
"Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation,"
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University of Chicago Press, vol. 89(6), pages 1142-61, December.
- Maurice Obstfeld, 1981. "Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation," NBER Working Papers 0599, National Bureau of Economic Research, Inc.
- Simonsen, Mario Henrique & Cysne, Rubens Penha, 2001. "Welfare Costs of Inflation and Interest-Bearing Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(1), pages 90-100, February.
- Gaowang Wang & Heng-fu Zou, 2011.
"Inflation Aversion and the Optimal Inflation Tax,"
CEMA Working Papers
480, China Economics and Management Academy, Central University of Finance and Economics.
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