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Article: A simple pecuniary model of money and growth with transactions cost

TitleA simple pecuniary model of money and growth with transactions cost
Authors
Issue Date1996
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jmacro
Citation
Journal Of Macroeconomics, 1996, v. 18 n. 1, p. 127-137 How to Cite?
AbstractThis paper presents a pecuniary transactions cost model with a Hansen preference, a Sims transactions technology and a Romer type externality-based endogenous growth to analyze the impact of an inflation tax which induces an increase in money velocity on real per capita income. Different from Dornbusch and Frenkel (1973), this paper obtains unambiguous comparative static results of changes in anticipated inflation. In addition, it also provides unambiguous ranking of the responses of endogenous variables to anticipated inflation. Unlike existing studies with exogenous growth, additional welfare costs arise here from the lower rate of output growth.
Persistent Identifierhttp://hdl.handle.net/10722/177663
ISSN
2015 Impact Factor: 0.714
2015 SCImago Journal Rankings: 0.618
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorZhang, Jen_US
dc.date.accessioned2012-12-19T09:39:28Z-
dc.date.available2012-12-19T09:39:28Z-
dc.date.issued1996en_US
dc.identifier.citationJournal Of Macroeconomics, 1996, v. 18 n. 1, p. 127-137en_US
dc.identifier.issn0164-0704en_US
dc.identifier.urihttp://hdl.handle.net/10722/177663-
dc.description.abstractThis paper presents a pecuniary transactions cost model with a Hansen preference, a Sims transactions technology and a Romer type externality-based endogenous growth to analyze the impact of an inflation tax which induces an increase in money velocity on real per capita income. Different from Dornbusch and Frenkel (1973), this paper obtains unambiguous comparative static results of changes in anticipated inflation. In addition, it also provides unambiguous ranking of the responses of endogenous variables to anticipated inflation. Unlike existing studies with exogenous growth, additional welfare costs arise here from the lower rate of output growth.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jmacroen_US
dc.relation.ispartofJournal of Macroeconomicsen_US
dc.titleA simple pecuniary model of money and growth with transactions costen_US
dc.typeArticleen_US
dc.identifier.emailZhang, J: jjzhang@econ.hku.hken_US
dc.identifier.authorityZhang, J=rp01124en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1016/S0164-0704(96)80007-3en_US
dc.identifier.scopuseid_2-s2.0-0030517690en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0030517690&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume18en_US
dc.identifier.issue1en_US
dc.identifier.spage127en_US
dc.identifier.epage137en_US
dc.identifier.isiWOS:A1996TP32500007-
dc.publisher.placeNetherlandsen_US
dc.identifier.scopusauthoridZhang, J=55367373100en_US
dc.identifier.citeulike5317373-

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