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EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/52477
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Heer, Burkhard | | en_US |
| dc.contributor.author | | Maussner, Alfred | | en_US |
| dc.date.accessioned | | 2011-11-28 | | en_US |
| dc.date.accessioned | | 2011-12-01T13:04:31Z | | - |
| dc.date.available | | 2011-12-01T13:04:31Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/52477 | | - |
| dc.description.abstract | | In most monetary models of economic growth, higher long-run inflation is associated with a decline in the growth rate and employment. We show that this result is sensitive with respect to the specification of the cash-in-advance constraint. We consider three types of endogenous growth models: 1) the AK-model, 2) the Lucas (1990) supply-side model, and 3) the two-sector model of Jones and Manuelli (1995). With the standard cash-in-advance constraint on consumption, higher inflation results in lower growth and employment in all three models, while, in the cash-credit good economy of Dotsey and Ireland (1996), the effect is the exact opposite. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | CESifo München | | en_US |
| dc.relation.ispartofseries | | CESifo working paper: Fiscal Policy, Macroeconomics and Growth 3647 | | en_US |
| dc.subject.jel | | O42 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | inflation | | en_US |
| dc.subject.keyword | | growth | | en_US |
| dc.subject.keyword | | costly credit | | en_US |
| dc.subject.keyword | | search unemployment | | en_US |
| dc.title | | The cash-in-advance constraint in monetary growth models | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 674647467 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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