File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Inflation and growth: Pecuniary transactions costs and qualitative equivalence

TitleInflation and growth: Pecuniary transactions costs and qualitative equivalence
Authors
Issue Date2000
Citation
Journal Of Money, Credit And Banking, 2000, v. 32 n. 1, p. X-12 How to Cite?
AbstractThis paper develops a pecuniary transactions costs (TC) approach to reexamine the principal relationships and results concerning inflation and growth. In a model with a general TC function and an endogenous labor-leisure choice, we consider four special cases by distinguishing among money as (1) a consumption good, (2) a production good, (3) an investment good, and (4) a consumption good as well as an investment good. Under some weaker conditions as in related studies, a reversed Tobin effect obtains for all cases: a high monetary growth rate leads to lower steady-state capital, labor, consumption, and real money balances. These findings suggest that a pecuniary TC model is qualitatively equivalent to alternative models in the literature.
Persistent Identifierhttp://hdl.handle.net/10722/177705
ISSN
2015 Impact Factor: 1.356
2015 SCImago Journal Rankings: 1.973
References

 

DC FieldValueLanguage
dc.contributor.authorZhang, Jen_US
dc.date.accessioned2012-12-19T09:39:37Z-
dc.date.available2012-12-19T09:39:37Z-
dc.date.issued2000en_US
dc.identifier.citationJournal Of Money, Credit And Banking, 2000, v. 32 n. 1, p. X-12en_US
dc.identifier.issn0022-2879en_US
dc.identifier.urihttp://hdl.handle.net/10722/177705-
dc.description.abstractThis paper develops a pecuniary transactions costs (TC) approach to reexamine the principal relationships and results concerning inflation and growth. In a model with a general TC function and an endogenous labor-leisure choice, we consider four special cases by distinguishing among money as (1) a consumption good, (2) a production good, (3) an investment good, and (4) a consumption good as well as an investment good. Under some weaker conditions as in related studies, a reversed Tobin effect obtains for all cases: a high monetary growth rate leads to lower steady-state capital, labor, consumption, and real money balances. These findings suggest that a pecuniary TC model is qualitatively equivalent to alternative models in the literature.en_US
dc.languageengen_US
dc.relation.ispartofJournal of Money, Credit and Bankingen_US
dc.titleInflation and growth: Pecuniary transactions costs and qualitative equivalenceen_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.scopuseid_2-s2.0-0039772308en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0039772308&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume32en_US
dc.identifier.issue1en_US
dc.identifier.spageXen_US
dc.identifier.epage12en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridZhang, J=55367373100en_US

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats