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A note on cash−in−advance constraints in continuous time

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Author Info
Eric Kam (Ryerson University)
Abstract

This paper demonstrates a robust proof of the continuous−time transformations of Stockman’s cash−in−advance constraints. When the constraint applies to consumption and capital purchases, monetary growth lowers steady state consumption and capital. When the constraint applies only to consumption purchases, monetary growth is superneutral.

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File URL: http://129.3.20.41/eps/mac/papers/0403/0403014.pdf
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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number 0403014.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 8 pages
Date of creation: 22 Mar 2004
Date of revision:
Handle: RePEc:wpa:wuwpma:0403014

Note: Type of Document - pdf; pages: 8
Contact details of provider:
Web page: http://129.3.20.41

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Related research
Keywords: Cash-in-advance constraints; monetary growth; superneutrality; Tobin Effect;

Find related papers by JEL classification:
E - Macroeconomics and Monetary Economics

This paper has been announced in the following NEP Reports:

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This page was last updated on 2009-11-30.

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