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- WOS: WOS:A1996TP32500007
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Article: A simple pecuniary model of money and growth with transactions cost
Title | A simple pecuniary model of money and growth with transactions cost |
---|---|
Authors | |
Issue Date | 1996 |
Publisher | Elsevier 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? |
Abstract | This 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 Identifier | http://hdl.handle.net/10722/177663 |
ISSN | 2023 Impact Factor: 1.3 2023 SCImago Journal Rankings: 0.671 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Zhang, J | en_US |
dc.date.accessioned | 2012-12-19T09:39:28Z | - |
dc.date.available | 2012-12-19T09:39:28Z | - |
dc.date.issued | 1996 | en_US |
dc.identifier.citation | Journal Of Macroeconomics, 1996, v. 18 n. 1, p. 127-137 | en_US |
dc.identifier.issn | 0164-0704 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177663 | - |
dc.description.abstract | This 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.language | eng | en_US |
dc.publisher | Elsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jmacro | en_US |
dc.relation.ispartof | Journal of Macroeconomics | en_US |
dc.title | A simple pecuniary model of money and growth with transactions cost | en_US |
dc.type | Article | en_US |
dc.identifier.email | Zhang, J: jjzhang@econ.hku.hk | en_US |
dc.identifier.authority | Zhang, J=rp01124 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/S0164-0704(96)80007-3 | en_US |
dc.identifier.scopus | eid_2-s2.0-0030517690 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0030517690&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 18 | en_US |
dc.identifier.issue | 1 | en_US |
dc.identifier.spage | 127 | en_US |
dc.identifier.epage | 137 | en_US |
dc.identifier.isi | WOS:A1996TP32500007 | - |
dc.publisher.place | Netherlands | en_US |
dc.identifier.scopusauthorid | Zhang, J=55367373100 | en_US |
dc.identifier.citeulike | 5317373 | - |
dc.identifier.issnl | 0164-0704 | - |