Money, Tobin Effect, and Incerasing Returns

This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.

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Year of publication:	2006-09
Authors:	Basci, Erdem ; Erdogan, Ayse M. ; Saglam, Ismail
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Increasing returns \| cash-in-advance constraints \| overlapping generations \| Phillips curve

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; D51 - Exchange and Production Economies ; D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; D52 - Incomplete Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005836089