Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 叶创基教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/S0165-1889(00)00072-5 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/11WOS source URL
其它资讯
摘要This paper characterizes the dynamics of a monetary endogenous growth model in which money is introduced into the system via a transactions-cost technology. A monetary equilibrium that either satisfies the Friedman rule of the optimum quantity of money or accommodates the zero-inflation-rate policy is dynamically unstable. With Cagan-like hyperinflation, the monetary equilibrium may either be unstable or exhibit dynamic indeterminacy in which a variety of equilibrium outcomes emerge in transition. The rate of monetary expansion, the relative magnitudes of the intertemporal elasticity of substitution and the production technological parameter are crucial for determining the stability property of the model. (C) 2002 Elsevier Science B.V. All rights reserved.
着者Jha SK, Wang P, Yip CK
期刊名称Journal of Economic Dynamics and Control
出版年份2002
月份4
日期1
卷号26
期次4
出版社ELSEVIER SCIENCE BV
页次6http://aims.cuhk.edu.hk/converis/portal/Publication/11 - 635
国际标準期刊号0165-1889
电子国际标準期刊号1879-1743
语言英式英语
关键词endogenous growth; monetary dynamics; transactions costs
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
