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.

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Year of publication:	2004-03-22
Authors:	Kam, Eric
Institutions:	EconWPA
Subject:	Cash-in-advance constraints \| monetary growth \| superneutrality \| Tobin Effect

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Extent:	application/pdf
Series:	Macroeconomics.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; pages: 8 8 pages
Classification:	E - Macroeconomics and Monetary Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005561128