Browsing by Subject "Disponibilidade monetaria"

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Money supply and capital accumulation on the transition path revisited

Cysne, Rubens Penha; Turchick, David
2010-02-22

Fischer (1979) and Asako (1983) analyze the sign of the correlation between the growth rate of money and the rate of capital accumulation on the transition path. Both plug a CRRA utility (based on a Cobb-Douglas and a ...
On the integrability of money-demand functions by the Sidrauski and the shopping-time models

Cysne, Rubens Penha; Turchick, David
2009-09

This paper investigates which properties money-demand functions must satisfy so that they are consistent with Lucas's [Lucas Jr., R.E., 2000. Inflation and welfare. Econometrica 68, 247-274] versions of the Sidrauski and ...