| Title: | Inflation and Capital Accumulation in a Two-Sector Cash-in-Advance Economy |
| Authors: | Huo, Teh-Ming
霍德明 |
| 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: | http://dx.doi.org/10.1016/S0164-0704(97)00006-2 |
| Appears in Collections: | [金融學系] 期刊論文
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