Money supply and capital accumulation on the transition path revisited
| dc.contributor | Escolas::EPGE | |
| dc.contributor | FGV | |
| dc.creator | Cysne, Rubens Penha | |
| dc.creator | Turchick, David | |
| dc.date.accessioned | 2010-02-22T12:32:13Z | |
| dc.date.accessioned | 2010-09-23T18:57:26Z | |
| dc.date.accessioned | 2019-05-22T13:36:12Z | |
| dc.date.available | 2010-02-22T12:32:13Z | |
| dc.date.available | 2010-09-23T18:57:26Z | |
| dc.date.available | 2019-05-22T13:36:12Z | |
| dc.date.created | 2010-02-22T12:32:13Z | |
| dc.date.created | 2010-09-23T18:57:26Z | |
| dc.date.issued | 2010-02-22 | |
| dc.identifier | http://hdl.handle.net/10438/4186 | |
| dc.identifier.uri | http://repositorioslatinoamericanos.uchile.cl/handle/2250/2684366 | |
| dc.description.abstract | Fischer (1979) and Asako (1983) analyze the sign of the correlation between the growth rate of money and the rate of capital accumulation on the transition path. Both plug a CRRA utility (based on a Cobb-Douglas and a Leontief function, respectively) into Sidrauski's model - yet return contrasting results. The present analysis, by using a more general CES utility, presents both of those settings and conclusions as limiting cases, and generates economic gures more consistent with reality (for instance, the interest-rate elasticity of the money demands derived from those previous works is necessarily 1 and 0, respectively). | |
| dc.language | eng | |
| dc.publisher | Fundação Getulio Vargas. Escola de Pós-graduação em Economia | |
| dc.relation | Ensaios Econômicos;702 | |
| dc.subject | Capital accumulation | |
| dc.subject | Monetary growth | |
| dc.subject | Money supply | |
| dc.subject | Superneutrality | |
| dc.subject | Transition path | |
| dc.title | Money supply and capital accumulation on the transition path revisited | |
| dc.type | Documentos de trabajo |