Money-Consumption Substitution and Capital Accumulation on the Transition Path: Some Numerical Results

Gianluca Femminis

Annals of Economics and Statistics, 1995, issue 39, 149-157

Abstract: In a recent contribution Villieu [1992] extends the Sidrauski-Fischer model, considering various degrees of substitution between consumption and real money balances. He is able to characterise analytically the portions of the parameters space that imply an "anti-Tobin" effect. This paper shows, by means of numerical methods, that the procedure used by Villieu to prove his result is biased when the elasticity of substitution between consumption and real money balances is low.

Date: 1995
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.jstor.org/stable/20076007 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:1995:i:39:p:149-157

Access Statistics for this article

Annals of Economics and Statistics is currently edited by Laurent Linnemer

More articles in Annals of Economics and Statistics from GENES Contact information at EDIRC.
Bibliographic data for series maintained by Secretariat General () and Laurent Linnemer ().