On money and capital with durable goods

Arman Mansoorian and Leo Michelis

Economics Letters, 2010, vol. 107, issue 1, 36-38

Abstract: If expenditures on non-durables are more heavily financed with money than expenditures on durables then after an increase in the inflation rate there will be capital deccumulation followed by capital accumulation. Money is superneutral in the long run.

Keywords: Inflation; Money; Durables; Capital (search for similar items in EconPapers)
Date: 2010
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