Bhattacharya, Joydeep (contributor); … - 2005
fiat
money. We assume a production function with a knowledge externality (Romer-style) that
nests economies with endogenous … cash reserves. The other asset is a commonly available neo-
classical technology with knowledge externalities, as in Romer … assumed knowledge-externality form of the production
function nests economies with endogenous growth (AK form, i.e., θ + β = 1 …