Monetary, Fiscal, and Bank Regulatory Policy in a Simple Monetary Growth Model

Joydeep Bhattacharya (), Mark G. Guzman (), Elisabeth Huybens () and Bruce D. Smith
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Elisabeth Huybens: Centro de Investigacion Economica (CIE), Instituto Tecnologico Autonomo de Mexico (ITAM)

No 9501, Working Papers from Centro de Investigacion Economica, ITAM

Abstract: Most monetary growth models have a relatively simple structure. There are two assets, money and capital, and money is held either because it earns the same real return as capital, or because it is ascribed an advantage in transacting that is not explicitly modelled. Financial market institutions are not present, nor are the financial market frictions that presumably motivate monetary exchange. These are important omissions since, for example, they preclude any discussion of how financial market regulations impact on capital accumulation or the rate of inflation. This is an issue of great importance in development economics.

Date: 1995-02
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Working Paper: Monetary, Fiscal, and Bank Regulatory Policy in a Simple Monetary Growth Model (2002)
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