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dc.contributor.authorHeer, Burkharden_US
dc.contributor.authorMaussner, Alfreden_US
dc.date.accessioned2011-11-28en_US
dc.date.accessioned2011-12-01T13:04:31Z-
dc.date.available2011-12-01T13:04:31Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/52477-
dc.description.abstractIn 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.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Fiscal Policy, Macroeconomics and Growth 3647en_US
dc.subject.jelO42en_US
dc.subject.ddc330en_US
dc.subject.keywordinflationen_US
dc.subject.keywordgrowthen_US
dc.subject.keywordcostly crediten_US
dc.subject.keywordsearch unemploymenten_US
dc.titleThe cash-in-advance constraint in monetary growth modelsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn674647467en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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