English, Article, Journal or magazine article edition: Money and Endogenous Growth in a Cash-in-Advance Model with Social Status Hung-Ju Chen; Jang-Ting Guo

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/3399
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Money and Endogenous Growth in a Cash-in-Advance Model with Social Status
Author
  • Hung-Ju Chen
  • Jang-Ting Guo
Physical Description
  • preprint
Notes
  • Motivated by the substantial increase of nominal money supply in the U.S. economy since late 2008, this paper examines the equilibrium growth effect of money/​inflation within a standard one-sector AK model of endogenous growth with wealth-enhanced preferences for social status and the most generalized cash-in-advance constraint. We show that the sign for the correlation between money and output growth depends crucially on (i) the liquidity-constrained ratio of consumption to investment, and (ii) how the shadow price of physical capital responds to a change in the monetary growth rate. This money-growth correlation, as well as the growth effect of social status, turns out to be closely related to the local stability properties of the economy's balanced growth path(s).
  • Money, Endogenous Growth, Cash-in-Advance Constraint, Social Status, In- determinacy
  • RePEc:ucr:wpaper:200906
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment