A note on cash-in-advance constraints in continuous time

Eric Kam ()

Economics Bulletin, 2004, vol. 5, issue 4, 1-8

Abstract: This paper demonstrates a robust proof of the continuous-time transformations of Stockman's cash-in-advance constraints. When the constraint applies to consumption and capital purchases, monetary growth lowers steady state consumption and capital. When the constraint applies only to consumption purchases, monetary growth is superneutral.

Keywords: Cash-in-Advance; Constraints (search for similar items in EconPapers)
JEL-codes: E0 (search for similar items in EconPapers)
Date: 2004-02-11
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.accessecon.com/pubs/EB/2004/Volume5/EB-03E00008A.pdf (application/pdf)

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:ebl:ecbull:eb-03e00008

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().