Monetary Policy in a Cash-in-Advance Economy Employment, Capital Accumulation and the Term Structure of Interest Rates

Arman Mansoorian and Mohammed Mohsin (mmohsin@utk.edu)

Working Papers from York University, Department of Economics

Abstract: This paper studies the effects of monetary policies on employment, capital accumulation, consumption, and the term structure of interestrates in a cash-in-advance economy, where money is required for consumption expenditures. Monetary policy involves targeting the inflation rate or the nominal interest rate. The detail dynamics of the model are fully worked out As no numerical analysis is involved, we are able to identify very clearly the different channels through which monetary policy will impinge on the important macroeconomic variables.

Keywords: Employment; Capital Accumulation; Term Structure; Cash-in-Advance (search for similar items in EconPapers)
JEL-codes: E43 E52 E58 E62 E63 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2002-02
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Monetary policy in a cash-in-advance economy: employment, capital accumulation, and the term structure of interest rates (2004)
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