A note on cash−in−advance constraints in continuous time
AbstractThis paper demonstrates a robust proof of the continuous−time transformations of Stockmanâs 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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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0403014.
Length: 8 pages
Date of creation: 22 Mar 2004
Date of revision:
Note: Type of Document - pdf; pages: 8
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Cash-in-advance constraints; monetary growth; superneutrality; Tobin Effect;
Find related papers by JEL classification:
- E - Macroeconomics and Monetary Economics
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