Monetary policy in a small open economy with durable goods and differing cash-in-advance constraints

Arman Mansoorian and Leo Michelis

Economics Letters, 2010, vol. 107, issue 2, 246-248

Abstract: We consider the effects of inflation in a small open economy when expenditures on non-durables are more heavily financed with money than expenditures on durables. The distinctions between non-durables and durables, and asymmetric cash-in-advance constraints give rise to important dynamics.

Keywords: Inflation; Cash; Credit; Durables; Capital (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:107:y:2010:i:2:p:246-248

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