A note on cash−in−advance constraints in continuous time
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.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0403014. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.