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Title: Inflation and Capital Accumulation in a Two-Sector Cash-in-Advance Economy
Authors: Huo, Teh-Ming
Contributors: 金融系
Date: 1997-01
Issue Date: 2015-10-12 11:45:06 (UTC+8)
Abstract: This paper studies a dynamic two-sector model in which money is introduced through a cash-in-advance constraint. A perfectly anticipated inflation changes the relative price between consumption goods, as they are differentially subject to the cash-in-advance constraint. Contrary to the conclusion of Stockman (1981), inflation may either increase or decrease capital accumulation, even though only consumption goods is subject to the cash-in-advance constraint.
Relation: Journal of Macroeconomics, 19(1), 103-115
Data Type: article
DOI 連結:
Appears in Collections:[金融學系] 期刊論文

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