With inflation aversion, an increase in the monetary growth rate decreases the steady-state value of capital stock, consumption, and real balance holding.
|Date of creation:||2011|
|Date of revision:|
|Publication status:||Published in Annals of Economics and Finance, May 2011, pages 1-11|
|Contact details of provider:|| Web page: http://cema.cufe.edu.cn/|
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- Maurice Obstfeld, 1980.
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NBER Working Papers
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- Maurice Obstfeld, 1982.
"Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 97(2), pages 251-270.
- Maurice Obstfeld, 1981. "Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?," NBER Working Papers 0686, National Bureau of Economic Research, Inc.
- Maurice Obstfeld, 1989.
"Intertemporal Dependence, Impatience, and Dynamics,"
NBER Working Papers
3028, National Bureau of Economic Research, Inc.
- Obstfeld, Maurice, 1990. "Intertemporal dependence, impatience, and dynamics," Journal of Monetary Economics, Elsevier, vol. 26(1), pages 45-75, August.
- Liutang Gong & Heng-fu Zou, 2001.
"Money, social status, and capital accumulation in a cash-in-advance model,"
CEMA Working Papers
55, China Economics and Management Academy, Central University of Finance and Economics.
- Gong, Liutang & Zou, Heng-Fu, 2001. "Money, Social Status, and Capital Accumulation in a Cash-in-Advance Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 284-93, May.
- Fischer, Stanley, 1979. "Capital Accumulation on the Transition Path in a Monetary Optimizing Model," Econometrica, Econometric Society, vol. 47(6), pages 1433-39, November.
- Olson, Mancur & Bailey, Martin J, 1981. "Positive Time Preference," Journal of Political Economy, University of Chicago Press, vol. 89(1), pages 1-25, February.
- 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.
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