Money, interest, and capital in a cash-in-advance economy

Wilbur Coleman

No 323, International Finance Discussion Papers from Board of Governors of the Federal Reserve System (U.S.)

Abstract: A cash-in-advance constraint on consumption is incorporated into a standard model of consumption and capital accumulation. Monetary policy consists of lump-sum cash transfers. Methods are developed for establishing the existence and uniqueness of an equilibrium. and for explicitly constructing this equilibrium. The model economy's dependence on monetary policy is explored.

Keywords: Capital; Monetary policy; Money theory (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (8)

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