Money, Tobin Effect, and Incerasing Returns

Erdem Basci, Ayse Erdogan and Ismail Saglam

MPRA Paper from University Library of Munich, Germany

Abstract: This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.

Keywords: Increasing returns; cash-in-advance constraints; overlapping generations; Phillips curve (search for similar items in EconPapers)
JEL-codes: D51 D52 D91 E52 (search for similar items in EconPapers)
Date: 2006-09
New Economics Papers: this item is included in nep-dge, nep-mac and nep-mon
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https://mpra.ub.uni-muenchen.de/1917/1/MPRA_paper_1917.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:1904

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