Creator: Coleman, Wilbur John. Series: Nonlinear rational expectations modeling group Abstract:
A cash-in-advance constraint on consumption is incorporated into a standard model of consumption and capital accumulation. Monetary policy consists of lump-sum cash transfers. Methods are developed for establishing the existence and uniqueness of an equilibrium. and for explicitly constructing this equilibrium. The model economy's dependence on monetary policy is explored.
Also published in the International Finance Discussion Paper series, number 323.
Keyword: Equilibrium, Planned Growth economy, and Monetary Growth economy Subject (JEL): E31 - Prices, business fluctuations, and cycles - Price level ; Inflation ; Deflation, O41 - One, Two, and Multisector Growth Models, O42 - Economic growth and aggregate productivity - Monetary growth models, and E52 - Monetary policy, central banking, and the supply of money and credit - Monetary policy