Money, interest, and capital in a cash-in-advance economy

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Creator Series Date Created
  • 1988-05
Description
  • Also published in the International Finance Discussion Paper series, number 323.

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.

Subject (JEL) Palabra Clave Date Modified
  • 11/01/2019
Corporate Author
  • Federal Reserve Bank of Minneapolis. Research Department.
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