Alternative Approaches To Money And Growth
AbstractThis paper reexamines the issue of money and growth in an economy with both endogenous labor supply and endogenous capital stock using three recently developed approaches: the money-in-the-utility-function approach, the cash-in-advance approach, and the transactions-costs approach. By establishing a qualitative equivalence between alternative setups, the authors find economically justifiable conditions such that all comparative statics results derived.from the aforementioned approaches are identical. Copyright 1992 by Ohio State University Press.
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Bibliographic InfoPaper provided by Pennsylvania State - Department of Economics in its series Papers with number 8-89-4.
Length: 27 pages
Date of creation: 1989
Date of revision:
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Postal: PENNSYLVANIA STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, UNIVERSITY PARK PENNSYLVANIA 16802 U.S.A.
Web page: http://econ.la.psu.edu/
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economic growth ; monetary policy ; labour supply;
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